Press Release
Big Innovation Centre responds to Vince Cable’s speech on Intellectual Property and growth
17 December 2012
The Big Innovation Centre today hosted a briefing from Rt Hon Dr Vince Cable MP, Secretary of State for Business, Innovation outlining his vision for developing the UK’s intellectual property (IP) landscape to encourage growth.
Reacting to the announcement, Birgitte Andersen, Director of the Big Innovation Centre, said:
“Innovation and creativity are crucial to the UK’s competitive edge. This makes IP an increasingly vital tool for economic growth. But the IP environment must be ambitious, bold and enterprising.
“IP is increasingly the cornerstone of the contemporary knowledge-based economy, but overzealous protection of IP rights threatens to hobble it. There is an urgent need to inform copyright policy nationally and internationally. The regulatory regime must keep pace with a highly dynamic global economy in which innovation, business models, and consumer behaviour are constantly changing.
“An effective IP regime must focus on creating and expanding markets whilst also maintaining revenue for creative producers and delivering value to consumers. The UK government is finally beginning to declare independence from existing regimes, which too often serve to protect the status quo and stifle innovation. It is essential that the government now pushes to implement exceptions and limitations to IPR ownership rights, a move which has the potential to unleash more digital entrepreneurship.
“The future patent and copyright system cannot ignore how knowledge and ideas are generated in the modern economy. Co-creation and collaborative effort, often involving a multitude of firms and individuals, are central to generating the new ideas and products that will drive growth. Similarly, the commercial value of successful innovations can only be realised if there is excitement and ‘collective action’ across creators, distributors and users.”
The event also marked the launch of a new campaign Securing Growth through Intellectual Property. To be led jointly by the Big Innovation Centre, Department for Business, Innovation and Skills and the UK Intellectual Property Office, this campaign aims to reach out to innovative businesses, young people, consumers and creators to promote progressive management of IP and integrity in IP communities.
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