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Protecting IP at all cost

20 October 2010

The Chancellor of the Exchequer has announced that the Department of Business, Innovation and Skills will have its administration budget cut by 25 per cent.
In view of the Government’s desire to promote science and innovation at both the corporate and personal level it is crucial that these cost savings do not inhibit intellectual property development.

Costs and time involved in securing protection can still inhibit invention and innovation especially for smaller companies and the taxation of IP and R&D should allow for the time and costs taken to create new IP.

There should also be greater investment in the education of small business about how to identify, protect and exploit the intellectual property which the Government is encouraging.

The UK IPO which is part of the BIS should be properly funded and new ways of expediting applications for registration of rights both in the UK and Europe should be explored.

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