Bosses at some of the world’s most innovative companies, including BAE Systems, Siemens, Philips and Bayer, have warned that intellectual property (IP) is being neglected by the business world, despite representing up to 70pc of a modern company’s value.
Research by patent specialist Aistemos has found that many opportunities are lost and innovation stifled because of systemic IP problems. The majority of respondents claimed that boards in their industries see IP as a cost centre or a risk, with just a fraction admitting that it adds value.
They also stated that most business decisions are being made with a lack of understanding of the relevant IP. When it comes to research and development, collaborations, and even mergers and acquisitions business leaders only “sometimes” have the IP data they need to make an informed decision.