ISSUE 05 2014
INTELLECTUAL PROPERTY
17
I
n 2013, the UK Government published a report entitled Small Business: GREAT Ambition. The report details the challenges that are faced by small businesses, such as access to finance, hiring employees, developing new ideas
and products, expansion into new markets and business support. Similar issues will be familiar to entrepreneurs large and small across the whole planet – and one of the most important areas concerns protecting the intellectual property of those innovators.
Part of the solution in the report focused on education and the need for universities and technical colleges to “closely involve employers in making sure students learn relevant skills” and some institutions are already addressing this. Universities across Europe and the United States are training the next generation of entrepreneurial lawyers who can meet the demands of these start-up clients through legal advice clinics. This movement towards (mainly) free legal advice at universities goes some way to support the fledging start-up or entrepreneur who has little access to funds, while also providing students and university staff with the opportunity to transfer knowledge in a practical context.
London – like New York, Tel Aviv, Berlin and San Diego – is one of the main global hubs for digital technology innovation, demonstrated by the vibrancy and growth of the Silicon Roundabout in east London where accelerators, hubs and shared office space have developed along with the support, mentoring and finance that goes with them. In the US, a recent report detailed that there will be an increase in the number of entrepreneurs in 2014 and in London there were 3,000 tech companies in east London, employing an estimated 50,000 people (July, 2012). However, being a business start-up is risky business, with one in three businesses failing within the first three years. The rate of failure is a similar picture worldwide and this brings additional consequences for the economic wellbeing of both individuals and society.
National governments have recognised that in order to support small businesses and increase investment opportunities, law reform is required, particularly in the areas of employment, intellectual property, tax and regulation
Protecting IP – an essential building block in the high-tech innovation race A significant part of business failure can be attributed to the lack of awareness and unmet legal needs of start-ups and entrepreneurs. The legal landscape in which they operate is rapidly changing and the legal issues that are faced by start- ups and entrepreneurs are becoming increasingly international rather than just national – although the latter is of equal importance. National governments have recognised that in order to support small businesses and increase investment opportunities, law reform is required, particularly in the areas of employment, intellectual property, tax and regulation. The new UK Intellectual Property Act 2014, which received Royal Assent in May, is an example of how the law, as the Intellectual Property Office states “modernises…to help UK businesses better protect their IP rights in the UK and abroad. The provisions all aim to support business in driving economic growth [and] encourage innovation.”
There has also been significant moves at the European level, with regard to the Unified Patent and Unified Court Agreement, which will create a court in which unitary patents and European patents can be litigated for those EU member- states which are signatories. International pressure is also making some jurisdictions re-think their immigration policies, to provide for the transfer of people and knowledge, given the need for talented and skilled employees, particularly in start-up companies which are covering new ground and pushing new boundaries.
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