Deloitte: Technology companies must focus on intellectual property

By Rob Starr, Content Manager, Big4.com

Carmen Aquerreta, who leads Deloitte’s Research & Development practice, recently commented on news coming out from the UK Intellectual Property Office.

“Vince Cable’s announcement on the new approach and extra resources of the UK Intellectual Property Office will help companies maximise the value of the intellectual property (IP) within their business,” she said.  ” Intangible assets, including all forms of IP, such as patents, are now driving more value than tangible assets, such as factories or equipment. The promise of a superfast patent processing service to deliver patents in just 90 days is likely to help protect UK companies’ interests in international markets.”

She went on to say the announcement will further support business as a whole, and that is  is the turn of individual companies.

“Most companies do not have a structured approach to considering what IP they have and what business models would optimise the return on that IP. Companies need to take advantage of these tax breaks and regulatory support. IP has traditionally not had a clear owner within a company, being shared between strategy, technology, finance, and legal. Boards in fast growing technology companies must identify, protect and make money from their intellectual property.”