Humanity has used innovation to progress from the stone age to the space age and beyond. Without innovation, none of the technological wonders that have made our lives richer, healthier and better would exist.
However, innovation is risky: intellectual property (IP) has a role in improving the balance between risk and reward for innovation. By allowing those who protect their intangible assets with intellectual property rights to reap the rewards from it, the IP system encourages investment in new technology, brands, and the creative industries, and aids commercialisation.
The IPO supports innovation and growth by delivering a clear, accessible and widely understood IP system, encouraging investment in innovation and ensuring that the results of that investment are used and adequately protected.
The report is a retrospective look at the IPO’s activity for 2015/16. It is structured around our four outward-facing strategic goals which shape our strategy and corporate plan:
- promoting UK growth through IP policy
- delivering high quality rights
- ensuring IP rights are respected and appropriately enforced
- educating and enabling business to understand, manage and protect their IP