
Insurance for IP Litigation Costs
If you own any intellectual property (IP) rights, are you concerned about your exposure to litigation, and how you will finance any legal action? One way to address this concern is by means of an insurance policy.
Entrepreneurs, SMEs and start-ups can now access a “one-stop shop” of business advice thanks to a new online toolkit from Wynne-Jones IP.
The intellectual property firm has launched its Pioneer’s Toolkit, which aims to support businesses across all sectors in strengthening and protecting their brands by offering expert industry advice.
Through the online resource business owners can access information on areas including finance, branding and marketing, intellectual property, product development, research, tax credits and legal support.
Available through Wynne Jones IP’s website, the toolkit provides access to support from the firm’s team of intellectual property experts alongside guest blogs from a range of industry specialists.
Vicki Strachan, Partner at Wynne-Jones IP said the online resource will be “invaluable” to businesses of all sizes, and will draw on the expertise of the firm’s innovative network of experience, expertise and knowledge across the UK.
Ms Strachan said: “Over the years we have supported business across a vast range of sectors from medical researchers, to toy manufacturers, and even classic car companies, providing them with bespoke advice which has supported their business growth.
“Thanks to the rich diversity of our clients, we have acquired a range of specialist knowledge and believe we truly understand what businesses require in order to launch, develop and ultimately flourish.
“As a result, we decided to share our experience and expertise by setting up this invaluable online resource.
“The Pioneer’s Toolkit will act as a one-stop shop for SMEs, start-ups, and entrepreneurs, encompassing all the fundamental areas we believe businesses require support and advice in.
“Through this resource we aim to create a community of informed and supportive businesses, who not only work side by side, but ultimately strengthen each other to develop and grow.”
To find out more about the Pioneer’s Toolkit, click here.
If you own any intellectual property (IP) rights, are you concerned about your exposure to litigation, and how you will finance any legal action? One way to address this concern is by means of an insurance policy.
A recent study performed by the European Patent Office (EPO) and the European Union Intellectual Property Office (EUIPO) has shown that companies which own at least one patent, trade mark or registered design generate on average 20% higher revenues per employee and pay their staff on average 19% higher wages compared to companies that do not own any of these intellectual property (IP) rights.
Keeping an IP budget afloat despite sunk costs.
The cost of securing IP can be heavily front loaded. Examples of such costs include patent drafting, pre-filing searches, filing fees, etc. These costs become “sunk” costs in that they cannot be recovered. Because IP protection can be a relatively long process, at any time during the process there are likely to be significant “prospective” costs: future costs that may be wholly or partially avoided depending on actions taken.
Have you recently validated your European patent in Turkey? Did you know that in addition to paying annual renewal fees, Turkish law also requires you to submit a public declaration stating whether you have actively worked your invention in Turkey?
UK businesses are fighting for survival during the continuing COVID-19 outbreak and trying to trade under difficult conditions, the likes of which haven’t been seen in the living memory of most business people. If you’re afraid that your business is going to the wall, it probably isn’t the top of your mind to pay for a patent application for your new technology or a registration of the trade mark for your brand new clothing range, right? Where is the money coming from to invest in such luxuries as IP, we hear you say, when staff are being furloughed and orders have been postponed?
The European Patent Office has announced that videoconferencing will become the norm for oral proceedings before examination and opposition divisions until at least 15 September 2021. But is this a taste of what the future holds for oral proceedings at the EPO?
On 12 November 2019, the EPO and CNIPA agreed to enhance their bilateral co-operation to give patent applicants filing an international patent application in English at the CNIPA, the choice to opt for the EPO as their ISA. A two year pilot programme launched on 1 December 2020, offers applicants filing international applications with the CNIPA or the International Bureau (IB) of the World Intellectual Property Office (WIPO) the opportunity to select the EPO as their ISA and as their International Preliminary Examining Authority (IPEA), rather than CNIPA.
In October 2020, the UK Government declared that the territorial effect of five important IP treaties would be extended to cover Gibraltar from 1 January 2021. These treaties are the Paris Convention, the Patent Cooperation Treaty, the Madrid Protocol (on International trade marks), the Nice Agreement (on trade mark classification), and the Berne Convention (on copyright). Following on from this, a bill was passed in on 11 December 2020, making some amendments to trade mark and patent law in Gibraltar.
Due to the coronavirus outbreak and recent health advice, the WJ team are working from home. It’s business as usual however some services may be slightly slower than normal so please bear with us during this time. As our offices are currently closed we will not be able to access postal mail so please send correspondence and documents by email on docketing@wynne-jones.com. Our telephones have been diverted so the WJ team are still contactable by phone on 01242 267 600.