Irish Medtech Association, the Ibec group that represents the sector, helped launch a practical new guide offering advice for businesses on managing the latest intellectual property (IP) issues.
The “Practical Guide to IP Issues for Medical Technology Companies”, produced by Hanna Moore + Curley, was launched in Galway at an Irish Medtech Association event with the European Patent Office Examiners.
Intellectual property is recognised as one of the most important assets of many of the world’s most powerful companies, vital to lasting market dominance, and often the key objective in mergers and acquisitions.
Speaking at the launch, Irish Medtech Director Sinead Keogh stated: “Medtech is one of the most innovative sectors in Europe with nearly a 13% increase in patents filed in 2015. While 40% of these patents were filed from European countries, 41% came from the US, highlighting the global strategic importance of access to the €110 billion European market.
“Europe is the world’s second largest medtech market and access to it and the EU is key for global businesses. Ireland is a country of business substance, with as many as 18 of the world’s top 25 medtech companies having a base here, a strong history in Research, Development and Innovation (RDI), and we are soon to be the only English speaking member state in the EU. This renders us an extremely attractive location in which to do business.
“However, the Government must do more to reflect how R&D investment in the medtech sector can translate into new developments and products ready for market. While the Knowledge Development Box helps make us attractive to global companies and supports business research, the unique nature of innovation in medtech means more needs to be done to look beyond patents to protect and grow intellectual property with the use of trademarks and registered designs.”
Hanna Moore + Curley European Patent and Trade Mark Attorney Barry Moore “We are delighted to be associated with the launch of this guide alongside the Irish Medtech Association to highlight the importance of intellectual property within the medtech sector here in Ireland. This importance is acknowledged by the presence today of the European Patent Office delegation of nine examiners. We hope that our IP Self-Audit which we are providing with our Practical Guide to IP Issues for Medical Technology Companies, will assist companies in identifying and protecting their innovation.”
Source: Irish Medtech Association