A recent investigation conducted by the European Union Intellectual Property Office (EUIPO) and the European Patent Office (EPO) titled “Patents, trade marks and startup finance” has revealed that intellectual property (IP) rights significantly contribute to the achievements of European startups. According to the study, launched on October 17th , startups that seek trademarks or patents at an early stage are 10.2 times more likely to attain success, on average. The importance of IP extends to various expanding sectors, such as biotechnology, science, engineering, healthcare, and manufacturing. However, the study also highlighted substantial variations in the percentage of companies that have applied for IP rights and observed disparities among European countries. In summary, the report concludes that as startups expand, their utilization of intellectual property (IP) rights, particularly those of European origin, becomes more pronounced.
Read more about this study here.