media centre: press releases 
hidden treasure
10/04/2009
Recently Birmingham was revealed as the hardest hit city by the current economic downturn. In increasingly difficult circumstances it is important to compete and prepare for a brighter future. The value of intellectual property should not be underestimated in that process.
Our region has a proud heritage in manufacturing and the creative industries that was built on innovation and a reputation for quality. Intellectual property rights go to protect these values whether it is a product or a process that may be protected by a patent, the design of the product itself, or a name and reputation that may be protected by a trade mark.
You only have to think of Apple's ipodŽ to realise how effective branding and product design can be. However design is not only for Californian computer giants. The West Midlands has a wealth of skills in design and development from the skills we have in the automotive sector through to Jewellery. There also lies a strong commitment to developing these skills in the region with universities and colleges like Birmingham City University and The Birmingham Institute of Art and Design. Around these institutions businesses can also find help and assistance with product design and development through organisations like the Design Knowledge Network and The Design Hub at Coventry University Enterprises.
If a business does not have the intellectual property rights to support its products or services then it will find it harder to protect its market position against those who copy or seek to undermine its marketing. This will be important for existing products and services as well as new products that may be planned.
Understanding what intellectual property you have can help you see where there are gaps in protection and what rights may be protected by registration. It can help identify intellectual property that is no longer needed but which may be costing money to maintain. It can also help reduce liability where there are risks that you may be infringing third party rights.
Although intellectual property is not 'property' in a real sense it is often surprising to people that it can be sold, licensed and even used as security to raise finance. Therefore identifying what intellectual property a business has can provide new opportunities to make money, for example by selling or licensing the rights to another.
There is no better time than now for businesses to review what intellectual property they have and what they need for a bright future.
For further information please contact Helen Driscoll on
helen.driscoll@martineau-uk.com
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