IP protection important to Scottish businesses

Maclay Murray & Spens survey finds companies want more efficient procedures

News, 20 April 2007

Maclay Murray & Spens has called for a streamlining of the legal framework designed to protect the intellectual property (IP) of companies and organisations.

Fiona Nicolson, a senior partner of IT/IP at the firm and chair of the IP Group of the Lex Mundi network of which MMS is a member, spoke out after a survey of Scotland’s top 500 companies carried out for the firm by George Street Research.

The results showed that the companies feel the current system is cumbersome, slow and expensive.

Ms Nicolson said: “There is little doubt the system does require to be reviewed. Put in context, these are significant businesses, and some 80% of them said IP was very or critically important to their business. Yet, they strongly felt the current system is a problem for them.

“In my view, it is important that we have a look at how the burden can be eased for companies in protecting what is becoming an increasingly important asset."

Of the 46% of organisations that view IP as “critical”, almost all have taken steps to protect their valuable intangible assets. Those placing the highest importance on IP came from the life science sector, where 75% of those questioned said it was “critical”, compared to only 16% in the services sector.

Half of all financial services respondents named trade marks as their most important IP right. This focus is reflected by respondents’ views on Scotland’s most successful brands - with the Royal Bank of Scotland’s 48% of the overall vote beating such Scottish icons as Famous Grouse, Walker Shortbread and Pringle.

The survey revealed that patents are a key tool in the life science and technology sectors, where investment in R&D and judicious licensing are core to business success. Meanwhile, knowhow and trade secrets are the most highly prized intellectual assets in the manufacturing sector.

Ms Nicolson concluded: “Our clients care about their IP rights and we believe in reforming the current system so that it adequately meets the needs of modern, global businesses. We welcome proposals to improve access and awareness for smaller businesses together with any moves which make it easier for our home-grown players to accelerate and excel in innovation.”