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Denmark will protect companies' ideas and products

Denmark unveils action plan to safeguard intellectual property rights

Denmark unveils action plan to safeguard intellectual property rights

The government has outlined 16 initiatives that will protect Danish companies and ensure fair competition

On 14 September, the Danish Ministry of Industry, Business, and Financial Affairs revealed that it has launched a national action plan to protect intellectual property rights. This plan consists of 16 concrete initiatives designed to protect companies as well as their products and ideas.

Businesses need to invest in patents and trademarks in order to safeguard their products and avoid copies or unfair competition. Those who do so often experience a significant positive effect on their growth, development, job creation, wages, and exports.

Despite this, a large number of small and medium-sized companies in Denmark do not apply for patents, design rights and trademark protection. According to the Ministry of Industry, Business, and Financial Affairs, this is partly owed to the fact that acquiring such protection can be too expensive and challenging for SMEs.

Ensuring fairer competition

Understanding the risk of not protecting one’s intellectual property, the Danish government has launched a plan consisting of 16 key actions. These initiatives all work towards the realisation of four goals:

  1. Increasing value creation through intellectual property rights (IPR);
  2. Ensuring a more fair, efficient, and well-functioning IPR system;
  3. Increasing international engagement;
  4. Creating more awareness of IPR.

One of the government’s 16 initiatives entails setting aside DKK 3 million (over EUR 400,000) annually from 2021 to 2023 for a ‘patent voucher scheme’. Using this scheme, Danish companies will be able to apply for financial support to have patents made.

Minister of Industry, Business, and Financial Affairs Simon Kollerup discussed the national action plan, noting: “It is the government's ambition to ensure future growth and jobs, and therefore it is necessary to strengthen the competitiveness of Danish companies. Particularly among our small and medium-sized enterprises, there is an untapped potential that we must seize.

We must therefore do something about the barriers that keep small businesses from protecting their products and ideas. It will make the business community and Denmark even stronger and benefit us all."

Similarly, Director of the Danish Patent and Trademark Office Sune Stampe Sørensen highlighted that Danish companies need to protect their intellectual property if they wish to see an increase in their growth, exports, and wages. Ultimately, the new action plan will help the Danish business community develop and overcome its current challenges.

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