The role of Intellectual Property (IP) has undergone a transformative shift for small and medium-sized enterprises (SMEs). Previously, IP was considered a collateral activity and its potential was not fully explored. Nowadays, IP constitutes an integral service area supporting businesses in ways beyond conventional legal protection. With IP, SMEs can establish a distinct competitive advantage, making it challenging for competitors to replicate their success. IP also attracts investors since a robust IP strategy can secure future investors. It can also serve as a monetisation channel, via licensing and selling IP assets, including innovative mechanisms like crowdfunding.

Also, IP’s crucial role in trade fairs cannot be overstated. Trade fairs serve as the nexus where innovation is displayed, new products are introduced, and knowledge is transferred. For young companies and new start-ups, IP awareness is essential even before participating, as unprotected IP can lead to conflicts, infringements, and unauthorised reproductions.

The EUIPO, national IP Offices and the Ideas Powered for Business network aim at strategically integrating Intellectual Property Rights (IPR) into the fabric of core business for SMEs across the EU. They seek to promote EUIPO tools such as the SME Fund and IP Scan in order to assist companies to develop their business, empowering SMEs with the most efficient resources.

IP now emerges not just a simple legal necessity but as a dynamic force shaping the future of innovation and growth for European business.

Watch the video and learn more on the importance of IP as explained by several of our Ideas Powered for business network members.