IP and innovating the way to recovery

At a time when many businesses are thinking of onshoring some or all of their operations to minimise risk, it is good to know that Europe remains an attractive place for innovators.

Research carried out jointly by European intellectual property firm, Withers & Rogers, and Econsight, confirms the high volume of patents filed in Europe between 2013-2019. The interactive map sheds light on the countries where protection is most often sought for fast-developing technologies in fields such as precision medicine, drug discovery, nutraceuticals and biopolymers. It is possible that as business activity picks up, some innovative owner-managed businesses and corporates could consider strengthening their presence in this proven marketplace.

With its excellent university-based research teams and strong knowledge base, the UK is a great place for R&D teams to be located. Access to a depth and breadth of engineering expertise makes the UK an ideal base for wide-ranging research programmes involved in early-stage design and prototyping. Expertise in computer science and software development means many research scientists are used to sharing information on distributed systems. There are also opportunities to benefit from tax relief on profits generated from the sale of patented technologies under the UK’s Patent Box regime, as well as other fiscal incentives for businesses investing in R&D activities.

One obvious effect of the Covid-19 pandemic has been the sheer pace of R&D activity in areas such as pharmaceuticals, medical diagnostics, personal protective equipment (PPE), decontamination systems and mobility tracking technologies. This speed of innovation has forced a change of approach when it comes to protecting IP. In order to bring their innovations to market as quickly as possible, more businesses have been seeking provisional protection at an early stage. The ongoing uncertainty surrounding the pandemic and the possibility of further lockdowns means businesses will need to stay agile and make quick decisions about how to invest and protect their IP as they do so.

Investment in innovation will remain important for businesses that want to ensure they are ready for market recovery. This may well mean working collaboratively with tech innovators to find solutions to new problems, although further advice about how to do this securely without compromising any existing IP rights may be required.

While the pandemic has left its mark on many businesses, there will be commercial opportunities for those that stay focused on innovating the way to recovery and protect their IP as they go.

Dr Joanna Thurston is a partner and patent attorney at intellectual property firm, Withers & Rogers LLP