According to a new study released today by the European Patent Office (EPO) and the European Union Intellectual Property Office (EUIPO), small and medium enterprises (SMEs) that apply for patents, trade marks or designs have a greater probability of experiencing high growth than SMEs that do not.
While SMEs are a fundamental pillar of the European economy, contributing to 57% of the EU’s GDP, a large proportion of this contribution comes from a small amount of high-growth firms (HGFs). HGF firms are defined as those that have had an average growth rate than 20% per year over three consecutive years, and who have at least 10 employees at the beginning of the growth period.
The joint 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 a high-growth firm (HGF).
The research also reveals that the chances of an SME becoming an HGF are as high as 33% if they use “bundles” of trade marks, patents, and designs instead of one single IP right category.
Source: EUIPO
