debug

Leaders to modernise intellectual property

Wednesday August 3rd, 2011

The Government has announced plans to support economic growth by modernising UK intellectual property laws.

Ministers have accepted the recommendations made in an independent review which estimate a potential benefit to the UK economy of up to £7.9bn.

The recommendations were made in May 2011 by Professor Ian Hargreaves in his report, – ‘Digital Opportunity: A review of intellectual property and growth’. Modernising intellectual property law is a key action from the Government’s Plan for Growth, published in March alongside the Budget, which will help create the right conditions for businesses to invest, grow and create jobs.

Business Secretary Vince Cable said: “The Government is focused on boosting growth and the Hargreaves review highlighted the potential to grow the UK economy. By creating a more open intellectual property system it will allow innovative businesses to develop new products and services which will be able to compete fairly in the UK’s thriving markets for consumer equipment.

“We are accepting the recommendations and will now set about reforming the UK’s intellectual property systems. Opening up intellectual property laws can deliver real value to the UK economy as well as the creators and consumers.”

Leave a Reply

debug