Evidence shows Intellectual Property benefits small businesses and increase their chances of success
Crump, International Federation of Intellectual Property Attorneys President, 21
[Julian Crump, International Federation of Intellectual Property Attorneys (FICPI) President, March 2021, WIPO Magazine, “IP protection: building value and growth for small businesses,” , accessed: 7-10-24, ES]
While large companies invest in IP for good reasons – to protect their products and services, discourage competition and create new revenue streams for themselves – IP undoubtedly benefits smaller businesses too.
SMEs that apply for patents, trademarks or designs are more likely to grow quickly and succeed than those that do not.
In fact, the evidence is that SMEs that apply for patents, trademarks or designs are more likely to grow quickly and succeed than those that do not.
A 2019 EPO/EUIPO study pdf demonstrated that SMEs that have at least one IP right are 21 percent more likely to experience a growth period. Meanwhile, a 2021 update to the study found that fewer than 9 percent of SMEs owned at least one of the three main IP rights (a patent, trademark and design). By contrast, the figure is close to 60 percent for larger firms. This reveals a shocking disparity in the use of such a valuable business tool.