UK firms failing to protect their intellectual property

The report, by law firm Thomas Eggar, claims that property such as a company name, logos and products are in danger of being replicated if businesses fail to register them.

Figures show that up to 67 per cent of small firms have yet to protect their intellectual property by registering when necessary with appropriate trademarks, leaving themselves open to infringement.

Trademarks helps to distinguish products and services and provide legal protection for the business owner, ensuring competitors cannot copy a successful brand name.

Michael Camps, partner at Thomas Eggar, said: “Innovation is a key element of maintaining a successful economy. By failing to register their intellectual property. UK businesses are not only threatening their own profitability bur also the country’s ability to compete on an international scale.”

“Entrepreneurs should also be aware that safeguarding intellectual property can help to attract potential; investors. Registering their intellectual property an be simple and affordable, so we urge more companies to take advantage of this protection.”