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On March 18, 2024, an online seminar was held, organized by the European Union Intellectual Property Office (EUIPO), on the topic of "Protection of Intellectual Property Rights". The event outlined the leading policies before the EU in relation to the formation of a unified framework for the protection of intellectual property rights, which our team members present shared.
According to the latest statistics, violations related to intellectual property rights are increasing. The reason for this is that at EU level, 47% (equivalent to €6.4 billion) of the gross domestic product of all Member States is due to profits generated by intellectual property rights. This represents a significant growth of non-property assets of companies – in 2020 they represent 90% of all assets, unlike 1975, when they were only 17%.
As became clear in our previous article, intellectual property is that which "gives birth" to products through the application of intellect, creativity, and imagination. With the advancement of technological progress, it is not surprising that it is Intellectual property accelerates the processes of creativity and innovation and boosts competition in the market. – indicative of this are:
(1) the "monetization" of intellectual property rights in the form of sales, licenses, franchise agreements, co-branding, even a large part of the marketing and development of innovations such as products like bitcoins and start-ups (which the EU funds and supports, including with the aim of encouraging grant programs in the field of intellectual property), as well as
(2) increasing the volume of the disputes in relation to unfair competition, caused by attempts to extract dividends from foreign intellectual property products.
Source: EUIPO
With the growing interest in investing in intellectual property The EU is allocating more and more funds, to support and protect the development of fair competition in the spirit of the basic principles of intellectual property – monopoly rights, temporal and territorial limitation, exclusivity, priority due to registration, possibility of transfer and "cash-on", etc. In addition The Fund for grant funding for the registration of trademarks, designs, patents and plant varieties, the Union also encourages consultations regarding out-of-court dispute resolution. Unfortunately, infringements of intellectual property rights (notably piracy, counterfeiting) are becoming an urgent concern, undermining investment and innovation for EU companies and creating risks for consumers and traders. Start-ups, as mentioned above, along with small and medium-sized enterprises (SMEs), are particularly vulnerable in this context and are much more likely to go bankrupt as a result of infringements of intellectual property rights than larger companies.
It is precisely for the above-described reason that a new service called"voucher for applying the IP scan procedure", under which costs incurred by your SME are reimbursed if you seek initial expert advice on this how to exercise your rights in the event of a breach ofa intellectual property rights or how to avoid infringing another company's intellectual property rights.
If you wish to conduct such a consultation, but are a small or medium-sized business without excess available funds, we will help you apply for the program, save up to 90% on your costs on matters related to intellectual property law enforcement, if there is a conflict with another country, or when there is a high risk of conflict, and receive adequate, timely advice that is up to date and the latest direction and policy of the EU.
