Innovation fuels economic growth. There is evidence to show that more innovative markets are the ones that grow. This is true across the whole economy or individual industries, with the businesses in them measurably more productive.
IP is important for innovation. The system of interconnected IP rights, patents, trade marks, designs and copyright, reduces the risk of investing in innovation by ensuring that the results can be commercially exploited by the owner and protected from exploitation by others. With good IP protection, innovators can be confident that they can make a fair return on their investment.
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 2016/17. 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 Grant Services
- ensuring IP rights are respected and appropriately enforced
- educating and enabling business to understand, manage and protect their IP