This year’s IP League Table was topped by Kromek, a UK radiation detection solutions company providing digital colour x-ray and gamma ray detection and imaging based in Sedgefield. Kromek’s innovative solutions enable direct materials identification in the security screening, civil nuclear and medical imaging markets. The company operates via an international distribution network and delivers its products and services to a global customer base.
Of the five IP asset classes scored, Kromek was the top performer in the software IP asset class and came second in relation to patents, for the management of their extensive patent portfolio. In addition, the company scored well for their management of trade secrets, coming fourth in this category, and also stood out for their strong trade mark portfolio and management of their brand and reputation.
They also secured top billing in the software class, alongside grant management firm CC Technology and Scotland’s Stephenson Astrosat.
“The IP League Table gives SMEs recognition for the IP they’ve created. This is a unique opportunity to benchmark your company as IP-savvy and demonstrate to the world how IP-rich your company is,” said Stephen Robertson, founder of IP specialists Metis Partners who compiled the league table. It recognises how businesses perform against a series of intellectual property classes, and gives an overall score out of 100.
Three firms secured identical scores for their approach to patent protection:
Recently reported statistics tell us that more than 50% of EU industries rely on IP assets; and these industries (i) generate circa 40% of GDP in Europe; and (ii) account for circa 90% of the EU’s trade with the rest of the world.
The recognition of IP on the balance sheet of some entrants was one of the features linked to some of the best scoring companies, suggesting that acquired IP assets have encouraged companies to be more effective in IP management.
Rosa Wilkinson, director of innovation at the UK Intellectual Property Office, said: “Every company will have some IP, even if it’s just its name. But not every company will have growth potential. It’s that ability to innovate that is going to be at the core of the UK’s economic growth.”