UK firms vulnerable to IP theft

FAST survey shows most businesses are unaware of government IP strategy

More than half of UK IT and business decision makers do not think enough is being done to protect them against intellectual property (IP) theft or infringement.

And according to research conducted by the Federation Against Software Theft (FAST), 49 of the 100 bosses surveyed are concerned that a potential threat to their company's IP would lead directly to the loss of their job.

In total 53 per cent of those questioned felt that not enough was being done to protect their IP rights.

Additionally, some 58 per cent of respondents said they did not even know what the current government IP strategy was, but 23 per cent said it should increase punishments for those who infringe IP laws.

Julian Heathcote Hobbins, general counsel at FAST, said SMBs often cannot pursue copyright infringers, and called for them to act to protect themselves.

He said: "Whereas larger software houses often possess the knowledge or the economic clout to seek out and pursue copyright infringers, many SMEs are not in a position to do so.

"It is therefore important that we empower SMEs to act when their IP is being threatened and make the legislative process as efficient and straightforward as possible to help SMEs fortify themselves against IP theft."