News

Read about the latest developments at Shepherd and Wedderburn - as well as updates on the law. There are also details of our latest deals, and our media centre for journalists.

Media Releases
2005

25 January
2005

Protect your R&D or miss out on funding warns law firm

Businesses have been urged to take action to protect the fruits of their research and development activities or face losing out on up to £7million in DTI Technology Programme grants.

Announced by Trade and Industry Secretary Patricia Hewitt MP in late November last year as part of an £80million R&D investment in British businesses, the DTI has earmarked £7million especially for Offshore Field Trial and Brownfield Technologies.

Intellectual property specialist, Graeme Moffett, from Shepherd and Wedderburn's Aberdeen office, believes that some businesses risk missing out on this cash and other sources of funding despite their pioneering approach to R&D:

"This DTI grant is the latest to award innovation in the Oil and Gas sector, however many businesses can find that they are not eligible for this or other similar grants and can have problems accessing other sources of funding such as private equity if they have not taken the requisite steps to protect intellectual property developed through their R&D activities.

"New technologies are key to maximising returns from North Sea assets, but development of these new technologies can be stifled unless appropriate steps are taken to protect intellectual property created through R&D. Any gaps in protection such as uncertainty as to who owns the rights to an invention or leaks of trade secrets can put off potential funders and rule out access to grants and awards such as this one from the DTI and SPUR awards from Scottish Enterprise.

Any firms seeking further information can contact Graeme Moffett at Shepherd and Wedderburn’s Aberdeen office on 01224 343555.


« Back to Press Releases