The rate of innovation is exploding. Technologies and services that were beyond imagination a generation ago are now taken for granted.
Intellectual property rights play a crucial role in innovation. They ensure results can be commercially exploited by the owner. Intellectual Property rights allow inventors, researchers and creators to pour their time, money and knowledge into innovation, confident that that if successful they can make a return on their investment.
The Intellectual Property Office is responsible for administering IP rights in the UK. It also provides the legislative and policy IP framework. We deliver an accessible and widely understood IP system. Our work gives researchers, creators and inventors the confidence to invest in trying something new. This encourages investment in innovation and economic growth.
The report is a retrospective look at the IPO’s activity for 2017/18 and how it its work has contributed to this vital system.
It is structured around two of our outward-facing strategic goals:
- delivering excellent IP services
- creating a world leading IP environment
This report demonstrates that the UK IP system continues to be rated as one of the best and demand for IP rights has increased. IP is a global success story for the UK, generating a £3.8 billion trade surplus in IP services.