An interesting survey released recently showed the business opportunities missed by businesses in NZ due to poor IP protection.
Nearly a third of New Zealand businesses surveyed say they have missed out on business opportunities in this country due to a lack of intellectual property (IP) protection.
That was despite 85 per cent saying that IP protection gave them a competitive advantage and 90 per cent saying IP had become more important to business in recent years, IP lawyers AJ Park said.
If the statistic is correct we have big problems. In a global economy with only niche manufacturing and elaborately transformed goods left to our traditional sectors, and the prospect of knowledge based business being the panacea to our problems, good IP protection becomes one of the most important issues to deal with.