View more on these topics

Warning on protecting intellectual property

Many financial services firms are failing to protect their intellectual property, leaving themselves exposed to the risk of attacks by competitors, according to patent and trademark lawyers Marks & Clerk.

A survey commissioned by the company shows that although 93 per cent of financial services firms with a turnover of £5m or more believe that protecting innovation and ideas is more important than it was 10 years ago, 33 per cent of businesses have no system to monitor and protect their intellectual property rights.

Fifty-three per cent of firms have no executive in charge of intellectual property and only 16 per cent have a designated executive at board level.

The study of over 200 companies also claimed that financial services is more exposed to these risks than other sectors. Only 65 per cent of financial services firms have processes in place to monitor intangible assets compared with 72 per cent of technology companies and 75 per cent of pharmaceutical firms.

Marks & Clerk partner Aidan Clarke says: “Patent and trademark portfolios are powerful commercial weapons and ultimately can affect the bottom line. Consequently, the business community really needs to get more proactive about protection before it is too late.

“Intellectual property protection through patents, designs and trademarks is essential to stop deliberate or unwitting imitation.”

Recommended

Green for go

Pensions have occupied the minds of many people this year, all coming from various angles and with different perspectives but with a common goal in mind – to make sure that more people have a decent income in retirement and will not have to face a retirement in poverty. But how do we get there?Hard […]

Matrix Money Management – Matrix Horizon Fund

Friday, 11 October 2002 Type: Fund of hedge funds Aim: Growth by investing in the Fortis investment fund Minimum investment: Lump sum £10,000 Place of registration: Dublin Investment split: 100% in the Fortis investment fund Charges: Initial 4%, annual 1.9% Commission: Initial 3%, renewal 0.4% Tel: 020 72920825

Legal & General – 2 in 1 Isa

Wednesday, 9 October 2002 Type: Unit trust mini or maxi Isa Aim: Growth by investing in unit trusts Minimum investment: Lump sum £500, monthly £50 Maximum investment: £7,000 Catmarked: No Investment choice: Legal & General UK index and cash trusts Charges: Annual 0.5% UK index trust Commission: Initial 1% for lump sum investments, 0.75% for […]

Probe into pension policy

The Treasury select committee intends to conduct a hearing into Government pension policy following the publication of the much anticipated Green Paper in the autumn.Labour committee chairman John McFall said at the conference that it plans to look into the issue of pensions some time in the next Parliamentary session. Details about the remit of […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment