We recently conducted some new research with YouGov to mark International IP Day on 26th April, the 2021 theme for which was SMEs. The survey of small and medium businesses (SMEs) in the UK (1-249 employees) found that only 21% of SMEs have taken steps to fully protect their intellectual property (IP) assets. The survey, of 436 SME decision makers, found that a further 22% have protected their intellectual property assets in part and, of the remaining respondents, 10% did not know whether their business was protecting its IP assets, and 21% did not think that they produced any IP assets at all.
This poll demonstrates that many UK SMEs are left exposed when it comes to their intellectual property assets. Intellectual property should be a core asset to any business. This is for both traditional protection of market position, but also for demonstrating innovation and branding. The ability to provide evidence can be crucial when seeking investment or acquisition, with many investors being acutely aware of the uses and importance of IP assets. Without careful consideration of IP, SMEs risk losing out to competitors on one hand, and losing out on investment and growth opportunities on the other.
Mewburn Ellis’ recently released Special Report, the IP Guide for SMEs which looks at the survey data in more detail, along with IP considerations for SMEs at all stages of their life cycle.