Small, innovative technology businesses are crucial to the UK’s ambition of becoming a science and technology superpower by 2030. Many of these companies rely on standards and standard-essential patents (SEPs) to develop exciting new products that connect to the world around them as part of the internet of things (IoT). To demonstrate the importance of standards and SEPs to small and medium-sized enterprises (SMEs), ACT | The App Association recently hosted ‘SME Tech Showcase – How effective standards policy can boost innovation’.
This virtual event featured three of our SME member companies showcasing their products and discussing why standards and SEPs matter to them and their businesses. We were also joined by an IP attorney who shared the legal implications that SMEs face when trying to access the standards they need to develop their products. Panellists included William Fish, founder of member company Manulytica, Stephen Kines, chief operating officer of member company Goldilock, Annsley Ward, intellectual property litigator at WilmerHale – International, and Brian Wyld, chief technology officer of member company Infrafon.
‘So if I don’t have standard to be able to go and use my device then I don’t have a device. You know, It’s as simple as that. No standards, no business’. – Brian Wyld, Chief Technology Officer, Infrafon
Opportunities and challenges
Our panellists explained why standards are the building blocks upon which their technologies are built, enabling them to work as part of the IoT ecosystem. They discussed the ways the IoT universe is heavily reliant on fair, reasonable, and non-discriminatory (FRAND) terms to access standards through a transparent and predictable patent policy.
Unfortunately, the current SEP licensing system limits their ability to attract funding, develop products, and grow. SMEs want to innovate without the risk of injunctions, expensive legal fees, or financial uncertainty.
‘When you start putting in these standards, it seems to be like it’s just created by lawyers and not by those who are running the business, which is essential’. – Stephen Kines, Chief Operating Officer, Goldilock
Our speakers made several recommendations for policymakers that could put the UK ahead in the connected technology space and make it a home for SME innovation. This included calling on the UK government to establish a licensing framework that provides a more transparent and predictable licensing process for SEPs.
Discover the full conversation by watching the webinar in its entirety below or on our YouTube channel. And click here to learn more about why SEPs matter to small businesses.