UK business growing through investment in ‘knowledge’ and ‘creative assets’

According to the department for Business Innovation and Skills (BIS), UK business is building success through ‘knowledge’ and ‘creative assets’, with nearly half of the 137.5bn investment protected by formal Intellectual Property Rights.

Of this, 46 per cent was protected by copyrights, 21 per cent by unregistered design rights and a similar number by trade marks.

Furthermore, investment in intellectual property and ‘intangible’ assets continues to outstrip money allocated for tangible assets such as buildings and machinery, which fell from 93bn to 89.8bn.

Minister for intellectual property, Lord Younger, said: “These investment figures show the strength and value of the UK’s creative and knowledge-based industries. Continued growth in investment in ‘intangible assets’, along with the fact that nearly half are protected by formal intellectual property rights, demonstrates that some UK firms do understand their real value.

“However, despite these positive figures, as the economy grows a real challenge remains for firms to understand their intellectual property and how it can help them to access funding to invest in the first place. The government has set out an action plan, to help address the missed opportunities and help businesses, and the lending community, to realise and maximise intellectual property assets.”

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