According to the European Intellectual Property Office (EUIPO), SMEs represent 99 % of all companies in the EU. Being a key element of the European economy, in the last 8 years they have created almost 85 % of new jobs and, overall, two thirds of total private sector employment in the EU.

On 26 May 2021 IP Key China organised an EU-China experts workshop on geographical indications (GI). Participants from the Directorate-General for Agriculture and Rural Development at the European Commission, the China National Intellectual Property Administration, the European Union Intellectual Property Office and the EU Delegation to China exchanged knowledge and expertise on important issues for the implementation of the EU-China GIs agreement.

Why is IP protection important for EU SMEs?

Small and medium-sized enterprises (SMEs) are the backbone of the EU economy. They represent 99 % of all businesses in the EU, account for more than half of Europe’s gross domestic product (GDP) and employ about 100 million people[1]. The positive association between economic performance and ownership of intellectual property rights (IPRs) is particularly strong for SMEs.

Innovation is a key source of growth, and protection of Intellectual Property (IP) has always been the driving force of innovation. The European Union (EU), as global leader in green and digital technologies, has been taking measures to incentivise EU SMEs to make use of the full potential of IP and put them on the right track towards economic recovery.

Successfully protecting and promoting geographical indications (GIs) – best practices were shared by important institutions and representatives of various GIs from Europe and Latin America at a webinar hosted by IP Key LA.

In our beauty-obsessed world, how much is too much when it comes to getting the latest look? With viral trends spreading faster than ever thanks to social media, keeping up with the latest skin routine can prove an expensive game. Influencers, video tutorials, you name it, the promotion of cosmetics and personal care products has never been easier. This phenomenon is matched only by the consumption of these same products, which has never been higher.