Investments made by businesses in products and services that are protected by intellectual property rights (IPRs) are worth £65bn a year, according to government-backed reports.
Copyright and design are the biggest contributors to growth of intellectual property rights and this includes software as well as music, publishing, broadcast and film.
“These reports show that business investment in intellectual property rights has more than doubled since 1990 and were worth at least £65bn in 2008, a figure which is expected to continue to grow,” Minister for Intellectual Property, Baroness Wilcox.
The report on ‘The Role of Intellectual Property Rights in the UK Market Sector’ was commissioned by the Intellectual Property Office (IPO).
Along with a report on ‘Film, Television & Radio, Books, Music and Art: UK Investment in Artistic Originals’, it seems to show that more money than ever before is being invested in products and services that have protection in copyright, designs, patents and trade marks.
Two reports show that £3bn of copyright investment is not included in National Accounts, meaning that a substantial amount of money is not accounted for in the value of intellectual property growth.
“Businesses who decide not to protect their intellectual assets are taking a huge financial risk because they may lose any rights to their creative ideas,” said Minister.
“We would always encourage companies to make an investment and make sure they gain the financial benefits they are entitled to,” said the Minister.
www.ipo.gov.uk