The new publication of the Hungarian Institute of Industrial Economics, supporting SMEs, focuses on the circular economy

By: Trademagazin Date: 2024. 12. 17. 12:20

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Environmental problems related to industrial production and waste management are one of the biggest challenges on our planet: in Europe we produce 2.2 billion tons of waste per year, but according to the latest Circularity Gap Report, only 7.2% of the global economy can be considered circular.

More and more market players are recognizing the need for change; according to a survey by the Boston Consulting Group, the fight against climate change and sustainability are of paramount importance to 65% of companies globally. The Hungarian Intellectual Property Office (HPO) is actively working to ensure that domestic enterprises are IP (intellectual property) aware in this area as well, and therefore it is helping SMEs striving for sustainable operation with a publication presenting positive examples and the most relevant forms of protection on the subject, as well as an educational campaign.

The circular economy means the sustainable and efficient use of resources: products are reused as many times as possible during their life cycle, thus reducing waste production and resource consumption. The publication “Intellectual Property Protection in the Circular Economy – A Guide for SMEs” and the related IP Heroes campaign aim to show companies that are committed to circular operations how they can obtain legal protection and increase their market and competitive advantage by obtaining protection.

According to the 2022 SME Report of the European Union Intellectual Property Office (EUIPO), almost all (93%) of the small and medium-sized enterprises that participated in the survey that registered intellectual property rights experienced a positive impact on their business activities.

“The use of intellectual property rights can also bring income to an SME. A consciously built and managed intellectual property portfolio provides a competitive advantage in the market and makes the enterprise more attractive to investors. Most importantly, however, it creates legal certainty, protecting enterprises against, for example, counterfeiters and copycats. Obtaining protection is the first step to successfully exploiting innovation,”

– emphasizes Szabolcs Farkas, President of the Hungarian Intellectual Property Office.