The EUIPO 2022 barometer highlights the importance of registering intellectual property rights in SMEs

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The EUIPO 2022 barometer

The EUIPO 2022 barometer highlights the importance of registering intellectual property rights in SMEs

Small and medium-sized companies in Europe represent more than half of the European Gross Domestic Product, and they play an important role in all sectors of the economy. They are essential to foster innovation in the EU and spread it universally. That is why both the EUIPO and the EU itself have a fundamental role in supporting the custody of the creations of SMEs, placing the custody of intellectual property creations in the central axis of their exercise.

Positive impact on the business of SMEs

Entities that have intellectual property rights registered in their companies have perceived a positive impact on their businesses. In this sense, the Barometer on SMEs and intellectual property, a survey that was recently published by the EUIPO on September 28, has indicated that 93% of SMEs have noticed this effect on their businesses.

This registry has highlighted that of those people who have been surveyed, 60% have noticed progress in the reputation of their company, 58% have perceived an adequacy in the protection of intellectual property and 48% believe that improvements are foreseen in the future.

As Christian Archambeau, Executive Director of the EUIPO, points out: “Together with the EU and the IP community, we will continue to guide SMEs, accompanying them as they progress through the world of intellectual property. One way to do this is to ensure that SMEs are aware of the benefits of protecting their innovation and creativity. We also work closely with our partners to provide financial support and guidance so that all SMEs that generate IP and need protection from infringements can get it more easily and cost-effectively.”

Possible violations in the creations of intellectual property

The infringement of intellectual property rights, whether in the physical domain or on the Internet, constitutes a civil offense and allows the corresponding claim to be filed to repair the damage caused.

It is important to note that the Barometer shows that there are a number of violations of intellectual property rights that are recorded. In this sense, among the SMEs holding intellectual property rights, 15% have suffered a violation of such rights.

In most cases, this goes hand in hand with the brands, assuming a great loss of business volume and reputation. For this, the important thing is to know what measures must be adopted to enforce such rights.

How to protect intellectual property rights in an SME

The registration of intangibles is essential to protect trademarks, patents or designs against third parties; if you don’t, you don’t have exclusive rights to them, so they can’t be used to take legal action in case of non-compliance​​, civil and even criminal proceedings.

Likewise, and despite the fact that large companies are the ones who invest in intellectual property, and either to discourage competition, to have a new source of income or to protect their inventions, the Barometer has shown that it also benefits smaller companies.

It is for this reason that, if you are an SME, and have an invention, a trademark, or a design, it is best to register it in the corresponding patent and trademark office. At Letslaw by RSM we are experts in Intellectual and Industrial Property, and we can help you with any question you need.

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