UK-IPO Free Booklet Helps Business Unlock the Value of Innovation

LONDON - A new booklet launched on August 1, 2008 by the UK Intellectual Property Office (UK-IPO) will help small businesses exploit their Intellectual Property (IP), a press release by the Office stated.

The booklet “How Licensing Intellectual Property Can Help Your Business” provides a wide range of information on IP licensing which includes advice on how to approach and conduct a productive IP licensing deal.

Licensing Intellectual Property is important to all types of businesses and can be a key instrument to achieving success.

For example, licensing can be appropriate to those who invent a product, to manufacturers and designers who configure or refine a product’s appearance to the producers of packaging and marketing literature and materials.

Through licensing businesses can gain benefits, financial or otherwise, by allowing others to use their IP.

Licensing also provides a means to gain access to IP other businesses hold in order develop new products.

"The 'Innovation Nation' White Paper published earlier this year, sets out the Government's goal to make the UK the best place in the world to run a creative, innovative business,” Chief Executive of UK-IPO Ian Fletcher said.

“We live in a world where "open innovation" - the exchange of ideas, knowledge and Intellectual Property - is becoming the way in which businesses develop and build new products,” he added.

“Licensing is the fundamental mechanism within the Intellectual Property system that facilitates open innovation,” Fletcher continued.

“I am delighted to publish this booklet today which provides an illuminating account of the key elements of licensing from a newcomers perspective,” he noted.

“We want businesses to gain the most value they can from their Intellectual Property and also to accelerate innovative development by working in collaboration with other businesses in using IP," Fletcher concluded.

The new booklet was produced by the UK-IPO-led Business-to-Business Licensing Working Group which comprises over twenty individuals with a range of expertise and experience of licensing.