On March 18, 2024, the European Union Intellectual Property Office (EUIPO) organized an online seminar titled “Protection of Intellectual Property Rights.” The event highlighted key EU policies aimed at creating a unified framework for the protection of intellectual property (IP) rights. Members of our team participated and shared insights from the seminar.
According to the latest statistics, violations of intellectual property rights are on the rise. At the EU level, 47% of the gross domestic product (GDP)—equivalent to €6.4 billion—across all member states is generated from profits related to intellectual property rights. This marks significant growth in the non-tangible assets of companies. In 2020, non-tangible assets represented 90% of all company assets, a sharp increase from 17% in 1975.
As discussed in a previous article, intellectual property is the driving force behind the creation of products, fueled by intellect, creativity, and imagination. With technological advancement, IP accelerates innovation and promotes competition in the marketplace. This is evident in:
- The “monetization” of IP rights through sales, licenses, franchise agreements, co-branding, and marketing innovations such as bitcoin products and start-ups. The EU actively supports these through funding and grant programs in the field of intellectual property.
- The increasing volume of unfair competition litigation, where companies attempt to profit from the intellectual property of others.
With growing interest in intellectual property investment, the EU is allocating more funds to support and protect fair competition. The Union promotes key IP principles, including monopoly rights, temporal and territorial limitations, exclusivity, priority from registration, and the transferability and commercialization of IP assets. Alongside its Grant Fund for the registration of trademarks, designs, patents, and plant varieties, the EU also encourages consultation on out-of-court dispute resolution.
However, infringements of IP rights—especially piracy and counterfeiting—pose an increasing threat, undermining investments and innovation, and creating risks for both consumers and businesses. Start-ups and small and medium-sized enterprises (SMEs) are particularly vulnerable, with a much higher risk of going bankrupt due to IP infringements compared to larger companies.
To address this, the EU has introduced a new service within the SME Fund called the “IP Scan Voucher.” This voucher reimburses SMEs for costs related to seeking expert advice on how to exercise their IP rights in the event of infringement, or how to avoid infringing on another company’s IP rights.
If you are a small or medium-sized business interested in such a consultation but lack sufficient funds, we can help you apply for the program. You can save up to 90% of your costs related to IP law enforcement, whether facing a conflict with another country or managing the risk of one. You’ll receive timely, relevant advice aligned with the latest EU policies and direction.
Photo: Jirsak, Getty Images
