Baroness Wilcox, the minister for intellectual property, has urged all innovative firms to safeguard their inventions and concepts from theft by registering them with the Intellectual Property Office (IPO).
The minister argued the case for the importance of patents and trademarks as a way of ensuring that designs, which often involve a significant investment in terms of time, money and talent, truly reward those responsible for thinking of them in the first place.
Baroness Wilcox said: “Designs touch almost every part of our day to day lives, from the chairs we sit on to the phones we use. Registering your design with the Intellectual Property Office can offer protection against unauthorised copies and imitations.
“We are keen to encourage businesses to get their designs protected to allow them to reap the potential financial rewards of their innovations. Many people are unaware that you can register a design for just £60, granting exclusive rights that are renewable for up to 25 years.”
Has your business come up with a great new idea but is struggling to raise the funds to finance it? We just might be able to guide you towards sourcing the right kind of backing.