December 22, 2010
According to the SME Innovation Alliance (SMEIA), small and medium sized businesses are finding it difficult to enforce their registered patents. This is because they lack the funds and resources to take on larger companies in patent disputes. The organisation has written to the Government to recommend that it set up a patent defence fund for smaller businesses to be able to use if they find their patents under threat. It has also suggested that the Government provides funding directly to small and medium sized technology businesses instead of through banks which may not decide to lend to smaller businesses or which may impose obstructive fees or rates. These comments are timely in view of the Government’s recent decision to review intellectual property laws in an attempt to make it easier for businesses to exploit and protect new inventions, particularly in the areas of e-commerce and technology. Having a patent is still recommended if your business has developed new technology or inventions. Hopefully the Government’s review will result in a greater number of smaller businesses being able to benefit fully from the protections that having a registered patent can provide.