Intangible assets outstrip ‘bricks and mortar’ investment

Is your business investing in R&D? Intangible asset investment reached £133 billion in 2014, according to research by the Intellectual Property Office 

Intangible asset investment reached £133 billion in 2014, according to research by the Intellectual Property Office (IPO).
This includes spending on R&D (research and development), software and design which was 9% higher than tangible asset investment such as a property, machinery and IT.
Investment in tangible assets grew by 38%, from £87.9 billion to £121 billion between 2011 and 2014. Further findings of the study include:
  • manufacturing and financial services accounted for 58% of intangible investment
  • 53% of intangible investments were protected by Intellectual Property Rights – a 3% increase from 2011
  • of those assets, 25% were protected by copyright, 11% by trademarks, 11% by design rights and 6% by patents.
Baroness Neville-Rolfe, minister of State for Energy and Intellectual Property, said: “Our intellectual property regime has helped create an environment in which innovators and creators can prosper knowing full well that their hard work will be rewarded and rigorously protected.”
Tony Rollins, president of the Chartered Institute of Patent Attorneys, added: “Investment in the protection of intellectual property is a vital driver of economic growth: it helps to maximise profits which fund further research and development into new ideas.”
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Condies is a progressive chartered accountancy practice with offices in Dunfermline and Edinburgh. The firm was established in the 1920s and has a growing client base throughout Scotland, ranging from individuals and family businesses to professional partnerships and large commercial companies. Condies offers a range of compliance and value-added services and specialises in a variety of industry sectors.