In recent years, companies have been taking advantage of novel, innovative technologies like blockchain and Artificial Intelligence for conducting business, but also interacting with each other in new ways. This new reality creates a challenge for companies, too, as they have to decide how to protect their intellectual assets in a more globalised and dynamic world. It is now relatively easy to expand business abroad with the risk of having a trade mark or a technology stolen by a competitor. Therefore, preparation in advance is the key to success.
It is sometimes difficult to apply the traditional concepts of IP to new technologies, so how can you protect and successfully exploit new technologies, business processes and creations, when doing business?
Artificial Intelligence & Blockchain
Artificial intelligence (AI) has become one of the most important and potentially most revolutionary technological advancements of the 21st century, playing a major role in industries ranging from automated driving to language and speech recognition.
Similarly, blockchain technology is emerging as an important technology in sectors ranging from property and banking to food safety. It is also having an impact on the legal sector. For European SMEs wanting to secure intellectual property such as trade marks, copyrights and trade secrets, blockchain could be an extremely useful asset, especially in those jurisdictions where blockchain-based evidence is recognised in court.
E-Commerce
The internet has become a popular and easy channel for product distribution around the world. It has created a marketplace of around 3.400 million internet users in the world, and is still expanding. Apart from being a forum for legitimate vendors and original products, the internet is also used by illegal and unscrupulous businesses as a platform for the distribution of counterfeit goods which infringe intellectual property rights (IPR).
Trade Fairs & Brokerage Events
For companies considering moving into international markets, trade fairs and brokerage events are key channels to introduce their products to a new market, expand their visibility and customer base and seek partners for manufacturing, distribution and retail. For many European SMEs, exhibiting at a major trade fair may be the first step towards internationalisation. However, as well as providing business opportunities, trade fairs also pose risks for exhibitors by exposing new products, technology, designs and brands to those who would copy the efforts of others for their own financial gain. For this reason, companies should learn how to design their own IP protection strategy.
