Joint EPO-EUIPO study finds strong link between SME growth and use of IP
Small and medium-sized enterprises (SMEs) that apply for patents, trade marks or designs have a greater chance of experiencing high growth than those that do not according to a new study released by the EPO and the European Union Intellectual Property Office (EUIPO). SMEs represent 99% of all businesses in the European Union, and contribute 57% of the EU's gross domestic product. However, a large proportion of the value generated by SMEs comes from a small number of high-growth firms (HGFs), which are often very innovative. The study shows that SMEs that have filed at least one IP right are 21% more likely to experience a growth period afterwards and are 10% more likely to become an HGF than firms without IP rights applications. SMEs that file for IP rights at European level have an even greater likelihood (17%) of becoming an HGF.