World IP Day - Innovating for a green future

World IP Day April 26 2020

Innovation – and the rights that support it – at the heart of the efforts to shape a low-carbon future

Each year the World Intellectual Property Office (WIPO) celebrates World IP Day by selecting a relevant topic to demonstrate the importance of intellectual property. This year’s World IP Day theme is “innovating for a green future”. Intellectual Property (IP) rights are important for advancing sustainable innovations. IP incentivizes innovation by providing innovators a time-limited and subject-matter specific monopolistic position in exchange for disclosing valuable information and by creating the legal basis by which the transfer of knowledge can be facilitated. In addition to encouraging innovation, IP ownership carries other valuable benefits such as reduced corporate tax rates through patent box schemes and increased investment opportunities. 

World IP Day is an ideal opportunity to highlight the strategic impact of IP and draw attention to a handful of the IP-specific incentive programs enabling green technologies to thrive. These initiatives are connecting innovators with IP information, resources, and investment opportunities to further accelerate the tech transfer necessary to meet our pressing global climate change demands.

The Importance of IP for a Green Future

Investors in green tech are looking to make a positive impact on the environment through financially sound investments. The technologies they invest in need to have a proven value to the fight against global warming and compelling evidence that the innovation has strong commercialisation potential. Patents help instil confidence that the market potential of the innovations can be realised.

As well as instilling confidence in the technology, intellectual property helps mitigate risk for investors. A review of the intangible assets held by the investee helps guide investment decisions and investors are better able to determine potential outcomes. IP also provides a channel to expand market reach; e.g. through licensing to deliver access to green technologies to territories where the investee may not have operations/reach. This provides an additional income stream and enables adoption of green tech across the planet.

UK Intellectual Property Office (UK-IPO) Green Channel

For those seeking UK patents, the UK-IPO has a green incentive program, the Green Channel. Applicants with an invention that has environmental benefits may request to accelerate the search, examination, and publishing process to ensure their patent is granted more quickly. The IP Offices of Australia, Korea, Japan, Israel, the US and Canada have similar programs. Increasing the speed of the patent grant process is important to deter competitors and especially beneficial in countries with patent box tax incentives where IP owners who are actively commercializing their IP are able to more quickly benefit from reduced corporate tax rates.

WIPO GREEN

In support of the UN’s Sustainable Development Goals, WIPO GREEN was created to help facilitate practical solutions and collaborations around green innovation. The online platform brings together innovators and key supporters who can help galvanize the development of environmentally beneficial technologies. WIPO GREEN has 110 global partners including government institutions, intergovernmental organisation, and research institutions as well as both SMEs and large multinational corporations. Through these partnerships, WIPO GREEN has compiled a list of programs and funding opportunities to support green innovation. This is a valuable place to access funding and information to help accelerate the growth and market potential of green innovations.

European Commission – IP Booster

IP Booster is a specialised IP service for public research organisations and is funded by the European Commission. Any EU-based university and public research institution generating high-quality research can take advantage of the program. Through IP Booster, participants are able to identify what intellectual assets they have and what they should protect. They are given commercialisation guidance and insights into what their assets may be worth to help them progress licensing and technology transfer negotiations and agreements. While this program is not dedicated to green technology, a handful of green innovations have already benefited from the service.

How can Deloitte Help?

Contact Deloitte IP Advisory today for advice on IP Strategy and IP portfolio development activities if you are a VC/PE backed high-growth SME. If you are a University, Public Research Organisation in the EU consider IP Booster to accelerate your green IP development and commercialisation. If you are a medium to large multinational, looking to optimise your IP portfolio, processes and strategy, are involved in corporate transactions where IP is a critical aspect of the deal, or looking to leverage IP based government incentives please contact Deloitte IP Advisory.

Contact

Deloitte IP Advisory Business Development, Marketing Communications:

Natalia Muska [email protected]  

 Additional Deloitte Resources

• Global Investment and Innovation Incentives - Gi3
• Deloitte Risk Solutions – Climate change and decarbonisation
• Deloitte Sustainability and climate change resources
• Sustainability Reporting