As well as copyright, patents and trademarks, intellectual property rights are more vital for British manufacturers than ever before. The law firm, DMH Stallard comments on the issue.
DMH Stallard has today published a report that indicates how businesses can best overcome potential pitfalls by ensuring that their approach to IP covers people and processes as well as high value designs, technologies and brands.
Co-author of the report, David Seall, said: “The over-riding sentiment that emerges from our interviews is that manufacturers need an IP strategy that engages with every part of their business – R&D, processes, people and products.”
While countries such as China have been accused of ignoring copyright and patent laws, it has been investing more in R&D and innovation and it is now other emerging economies such as India are copying the work of other companies in the West.
Tim Ashdown, Partner and Head of IP & IT at DMH Stallard said: “IP means different things to companies, depending on where they find themselves in the supply chain – but the most successful manufacturers have identified the key technologies, designs and processes that differentiate them from the competition and found ways to value them.”
As well as brand reversing is carried out in emerging economies, brand infringements are commonplace along with the theft of IP.
David Seall said: “At a time when manufacturing is leading the UK into recovery, protecting the designs, technologies and processes that underpin the success of our manufacturers and engineering companies in global markets has never been so important”