Autumn Statement: IP lawyers positive about increased R&D investment
Earlier this week, the UK government released its Autumn Statement, where it announced additional funding for research and development (R&D), a “positive sign” according to intellectual property lawyers.
The Autumn Statement—the second economic statement of the year—was announced by Chancellor of the Exchequer, Philip Hammond, on Wednesday, November 23.
In the proposed budget plans, the government said it would put £2 billion ($2.4 billion) more per year into R&D funding by 2020 to 2021.
This funding will cover R&D funding for businesses and universities with R&D projects to help the UK “remain an attractive place” for businesses to invest in “innovative” research.
Its aim is to back scientific research and the development of technologies such as artificial intelligence, robotics and industrial biotechnology.
WIPR spoke to lawyers about the affect this funding could have on IP in the country.
Simon Clark, partner and head of IP at law firm Berwin Leighton Pasiner, told WIPR: “Additional investment in R&D is a positive sign that the government recognises the importance of supporting innovation and the science and tech industries.”
He added that the ability “to protect that innovation from unlawful exploitation is also important” and warned that much “will need to be done to ensure that IP rights are not lost or weakened post-Brexit”.
Beatriz San Martin, partner at Fieldfisher, agreed that the funding increase was positive.
She said: “This should encourage innovation and we should see increased patent filings from those innovations in the coming years.”
Gordon Harris, partner at Gowling WLG, added that it is more money available for research and innovation is “always welcome.
“One of the suggestions made during the Brexit debate was that the UK might develop into a Singapore style ‘knowledge based economy’,” he said.
Harris added: “Maybe this is an attempt to redress the balance and get the UK back on a ‘knowledge path’. Technology is progressing faster than ever and this sort of investment is necessary if the UK is to stay at the forefront of innovation.”
Simon Bennett, partner at Fox Williams, also welcomed the announcement, adding that “the UK was and is a net beneficiary of EU grants for academic research and this will be lost following Brexit: the extra funding announced by the government will help plug this gap.”
He added that the “bigger picture is the uncertainty concerning the treatment of pan-EU IP rights post Brexit.”
Bennett warned that if the protection of rights that arise as a result of such funding cannot be guaranteed, then “no amount of extra funding will help safeguard the rights of UK's scientists, engineers and designers”.
Gwilym Roberts, partner and chairman at Kilburn & Strode, explained that the announcement is positive as it suggests the government is “looking at the right thing generally”.
Roberts added that he thinks Brexit has driven the investment, and “whilst there’s been plenty of downsides from an economic perspective, one thing it has done is focus everyone’s attention on what to do instead”.
Simon Clark is a WIPR Leader for 2016. His profile is available here.
Beatriz San Martin is a WIPR Leader for 2016. Her profile is available here.
Gordon Harris is a WIPR Leader for 2016. His profile is available here.
Simon Bennett is a WIPR Leader for 2016. His profile is available here.
Gwilym Roberts is a WIPR Leader for 2016. His profile is available here.
