EU - Webinar: The Importance of IP for SMEs

New products, brands, and creative designs appear almost daily on the market and are the result of continuous human innovation and creativity. However, SMEs and startups often lack the time, resources, or knowledge to address IP issues.

SMEs can protect their innovative solution or improved solution by obtaining a patent or other IPRs that can give a business a competitive advantage. Patent protection e.g. gives them the right to exclude others, allowing them to fend off competition, assume a lead, and secure market position. If left unprotected, a good invention or creation may be lost to larger competitors that are in a better position to commercialize the product or service at a more affordable price, leaving the original inventor or creator without any financial benefit or reward. Adequate protection of a company’s IP is a crucial step in deterring potential infringement and in turning ideas into business assets with a real market value.