Member Article

How IP can help women to lead in business

World Intellectual Property (IP) Day takes place on 26th April, with this year’s theme celebrating the can-do attitude of women creators and entrepreneurs. Katie Lee, a lawyer specialising in commercial and intellectual property law at Forbes Solicitors, looks at how embracing the IP system can help women to get ahead.

What is World IP Day?

The annual event is organised by The World Intellectual Property Organisation (WIPO) to stimulate innovation and creativity. It’s an important date in the calendar because IP is often seen as a specialist and complex area, which can prove off-putting for business leaders and creators focused on the opportunities and excitement of bringing new ideas to market. The reality is that, with the right advice, the IP system can enhance ideas and protect revenue growth.

Why it is important for this year’s World IP Day to celebrate women and IP?

Typically, men are much more involved in technological and IP roles. Data from Tech Nation shows women occupy around a quarter (26%) of tech roles in the UK. This imbalance contributes to a lack of women participating in the IP system, meaning that they are also missing out on the benefits of protecting their ingenuity and hard work.

IP remains the driving force behind most businesses, and its protection is of paramount importance. Content creators, inventors, and entrepreneurs invest significant time, money and creativity in new products, designs, branding, and other key IP property assets. All of this can be put at needless risk if they’re not aware of the legalities and processes that can be used to protect and enforce IP rights where necessary.

We’re increasingly seeing more and more ground-breaking businesswomen, who are innovating and leading. There are many great examples, from Anne Boden of Starling Bank, Guan Dian at PatSnap through to Bumble founder Whitney Wolfe Herd. These role models help to inspire other women inventors, creators, and entrepreneurs, and it’s crucial that they take early steps to safeguard their ideas.

What can be done to encourage more women to use and enter into the IP system?

Training and education are helping to raise awareness about the importance of intellectual property rights amongst women. The WIPO runs numerous campaigns to promote diverse IP ecosystems and business improvement around the globe, and this helps stimulate broader change. It instigates conversations about IP and its importance in supporting growth.

Businesses can also play a valuable role by involving more female staff in research and development. This will create an environment full of practical experiences and opportunities for more women to learn about IP during the early stages of innovation. Similarly, mentoring within businesses can also overcome challenges associated with women accessing the knowledge, skills, resources and support they need to access the IP system.

How can women get ahead with IP to lead in business?

A great starting point is to meet with like-minded people. Sharing experiences and insights is an effective way to breakdown the perceived barriers of IP, whether that’s a lack of knowledge, a fear of where to start or not knowing what questions to ask. There are a number of available professional networks which run IP focused events and forums and play host to a community of dedicated and creative entrepreneurs.

It can be also useful to look for free online resources, such as those made available by the Intellectual Property Office. There are also career development schemes available, which encourage women to explore and embrace IP opportunities available to them. The WIPO has published advice and examples of case studies from around the world, showcasing women breaking through technological barriers and promoting similar opportunities.

Finally, for those female innovators and creators who have great ideas and are developing exciting new concepts, it’s worth taking a moment to pause and thinking about how they can protect their creative outputs. Such consideration, combined with the ‘can do’ attitude of women that this year’s World IP Day is celebrating, is perfect for addressing IP solutions and seeking advice about the risks and available protections for their innovations.

This was posted in Bdaily's Members' News section by Ian Jones .