Plea by Baronness Lucy Neville-Rolfe over intellectual property

Baronness Lucy Neville-Rolfe has said that business needs to better understand the value of intellectual property (IP).

The former Tesco director, who became a junior Business Minister with the Government last year, has told business leaders that IP needed to be protected.

“We have a cultural problem in improving the understanding and value of IP in the UK business environment,” she said.

“Lawyers understand the area well, and its complexity suits the legal mind, but companies must realise that IP asset management is important.

“They must find IP-literate employees and directors who understand its value.