Ireland to overhaul its intellectual property regime

The Minister for Enterprise, Trade and Innovation, Batt O’Keeffe, told the group the aim is to make it easier for entrepreneurs to turn creative ideas into smart jobs by ironing out the kinks in the intellectual property process. O’Keeffe said he wants to, “Maximise opportunities for commercialisation of government-backed intellectual property and give entrepreneurs here a competitive edge.”

An expert group of technology transfer practitioners and cross-sector industry representatives has been appointed to implement the intellectual property-related recommendations of the Innovation Taskforce report, chaired by Jim Mountjoy, founder of Euristix, a credit risk management company, and a board member of Science Foundation Ireland.

O’Keeffe said, “Strong government investment in research and development means that we now have a vibrant intellectual property sector - but my concern is that we do not have a system that is fast enough in allowing these ideas be turned into commercialised products and, ultimately, jobs. I want to smooth the process for industry and enterprise in accessing intellectual property and turning it into products and services for the global marketplace.

The focus will be on ensuring that industry gets predictable, consistent and speedy treatment when engaging with research institutions to commercialise intellectual property. “I have asked the expert group on intellectual property to ensure that all enterprises, from small businesses to multinationals, get better access to Government-supported intellectual property and then be able to use it to create jobs and drive our economic recovery,” O’Keeffe said.

While Ireland’s intellectual property policies and guidelines are in line with international practice, a recent report suggested there is scope for Ireland to maximise the opportunities for commercialisation of government-supported intellectual property.