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Its government will increase science spending by 25 per cent in the next three years – but the UK won’t meet the 3 per cent Lisbon target.

Development of Europe’s satellite navigation system, Galileo has ground to a halt, with the supposed contractors baulking at the escalating cost of developing the system.

Today companies often spend as much on intangible intellectual assets as they do on tangible ones. The OECD is trying to find out how to value them.

A record 36,471 international trademark applications were received in 2006 by the World Intellectual Property Organisation.