Innovators' Day - Innovate, Protect & Prosper - 16 July 2014

Wednesday 16th July 2014

Welcome to:

Paul AttwoodChairman

COLLABORATE TO INNOVATEJONATHAN HAGUEVICE PRESIDENT OPEN INNOVATIONUNILEVER

International Festival of BusinessInnovators DayJuly 2014

AGENDA

About Unilever

Role of Innovation In Unilever

Open Innovation – Unilever’s model

In Summary

Handling IP

ABOUT UNILEVER

ABOUT UNILEVER

Unilever is one of the world’s leading suppliers of fast-moving consumer goods.

Our products are sold in over 190 countries and used by 2 billion consumers every day.

OUR COMPASS STRATEGY

Our vision is to double the size of the business, whilst reducing our environmental footprint and increasing our positive social impact.

FAST FACTS - 2013

€1 BILLION INVESTED IN R&D

WORLDWIDE

190COUNTRIES IN WHICH OUR PRODUCTSARE SOLD

TURNOVER OF €49.8

BILLION AT END OF 2013 EMPLOYEES

AT THE END OF THE YEAR

174,000

EMERGING MARKETS NOW REPRESENT

57% OF TURNOVER

THE UNILEVER SUSTAINABLE LIVING PLAN

We have long been working and reporting on our impact on society and the environment. Our Sustainable Living Plan brings together all this work and sets many new targets.

Our Sustainable Living Plan will result in three significant outcomes by 2020.

1. We will help more than 1 billion people take action to improve their health and well-being.

2. We will halve the environmental impact of the making and use of our products.

3. We will source 100% of agricultural raw materials sustainably.

HELP

1 BILLIONPEOPLE IMPROVE

THEIR HEALTH & WELL-BEING

HALVEENVIRONMENTALFOOTPRINT OFOUR PRODUCTS

SOURCE

100%OF

AGRICULTURALRAW MATERIALS

SUSTAINABLY

THE UNILEVER SUSTAINABLE LIVING PLAN

Greenhouse Gases

DISPOSAL

1%

DISTRIBUTION

/ RETAIL

2%

RAW MATERIALS

26%

CONSUMER USE

68%

MANUFACTURE

3%

Water use

WATER USED BY CONSUMERSIN WATER-SCARCE COUNTRIES

Waste

PRIMARY PACKAGING

54%

SECONDARY PACKAGING

13%

WATER WE ADD

TO THE PRODUCT1%

WATER USED IN SOURCING RAW MATERIALS

50% 49%

+ +

LEFTOVERS

34%

MATERIALS RECYCLED, REUSED OR RECOVEREDX%

-

SCALE AND GEOGRAPHICAL REACH

EUROPE

€20.1 billion turnover5.0% underlying volume growth40% of group turnover

ASIA, AFRICA, CENTRAL & EASTERN EUROPE

EUROPE

€13.5 billion turnover 0.4% underlying volume growth27% of group turnover

EUROPE

EUROPE

€16.2 billion turnover1.0% underlying volume growth 33% of group turnover

THE AMERICAS

CATEGORY HIGHLIGHTS IN 2013

Turnover: €8.9 billionUnderlying sales growth: 8.0%

Turnover: €13.4 billionUnderlying sales growth:

0.3%


7.3%


1.1%

PERSONAL CAREFOODS

REFRESHMENTHOME CARE

OUR €1 BILLION BRANDS

Home Care

Refreshment

Foods

Personal Care

14 Unilever brands have a turnover of €1 billion or more

UNRIVALLED MARKET POSITION INEMERGING MARKETS

ROLE OF INNOVATION IN UNILEVER

INNOVATION A KEY PIECE OF THE GROWTH STRATEGY

DRIVING INNOVATION AT SCALE IS NOW CRITICAL

2005 2013

5,000 600

Number of innovation projects

TURNOVER INNOVATED EACH YEAR

33%

NEW TECHNOLOGY IS DRIVING DIFFERENTIATION

INTELLECTUAL PROPERTYUNDERPINS INNOVATION

€1 BILLION INVESTED IN R&D WORLDWIDE

80%

1070DESIGN FAMILIESHELDPATENT

FAMILIES2805AT END OF 2013

NEW FILINGS PER YEAR

250 - 350

REGISTEREDPATENTS

22,000

OF DISCOVER PORTOLIODEPENDS ON PARTNERSHIP

OPEN INNOVATION IN UNILEVER

OPEN INNOVATION TEAM MANDATE

Strategic Science Group

CategoriesHC, PC, Foods, Refreshments

Program OwnersOwn OI

Open InnovationCFCDrives capabilities

Scouting

Deal Architecture

Cross Unilever Strategic Partnerships

IP Agreements Processes and IT

TrainingNew Capabilities – Devices, Social Business

Innovation

OPEN INNOVATION PROCESS

ManageManage delivery via the relationship.

WantDefining the targets.Which capabilities do we need to deliver the innovations ?

FindIdeas and wants Management in relation to defined needsScouting for capability providers

GetDefine business goals of alliance and likely alliance type. Approach & build deal quickly or separate

Unilever’s basicframework is externally Recognised

In place since 2007

Refined for our needs

OPEN INNOVATION IMPACT

2009 2010 2011 2012 20130

20

40

60

80

100

% Program deliverables dependent on open innovation

Source – DMUU Snapshots

We are OI enabled now55% of INNOVATION pipeline value is from Open Innovation

OI Enabled55%

No OI45%

iTO growth (2015-2018) reliant on OI(risk adjusted)

OPEN INNOVATION ALLIANCE STRATEGY

Our HUBS

PORTS in Hotspots

Core Ecosystem

Science Grid around our

Hubs

Partner to Win

Partners

Wider world of science and technology

Global Scouting Partners

Collaborate To Innovate Portal

Colworth House

Shanghai

Bangalore

Trumbull

Vlaardingen

Port Sunlight

PARTNER TO WINCO CREATING WITH SUPPLIERS

Targeted Encapsulation

Unilever IP on fabric molecular surface

recognition

Partner IP on Fragrance

CapsulesFragrance Design

Winning high performing fragrance

encapsulates

HANDLING IP IN STRATEGIC SUPPLIER ALLIANCES

Framework agreements, Progressive business conducive approach

Flexibility on Ownership of IPIP Ownership Split according to who can

best maximise protectionBoth Parties Retain Ability to Exploit IP if Project Terminated

Joint Innovation and Patenting Activity with Strategic Suppliers to maximise value to both parties

SCIENCE GRID – BUILDING FUTURE CAPABILITIES IN PARTNERSHIP

£16 million investment

over 10 years (£ 4M

Unilever)2007 2013 2015

Microbiorefinery

£ 2.83 Million awarded by UK

RGFOpen

Materials Innovation

Factory£65 M New Build

£ 11 Million awarded by

HEFCE to LiverpoolRadiotracer

Laboratory

Specialist unique facility

transferred into Liverpool

Open to public research also

iHT formulation Centre

Liverpool Science Park

Underway

£ 1.7 Min awarded by RGF

2014 2016

THE MATERIALS INNOVATION FACTORYNEXT GENERATION OF HIGH THROUGHPUT MATERIALS

DISCOVERY FORMULATION CHARACTERISATION AND

ANALYTICAL SCIENCE

WHY SO INTENSE WITH LIVERPOOL ?PROXIMITY MATTERS

T.J. AllenManaging the Flow of Technology (1977)

“We do not keep separate sets of people, some of which we communicate in one medium and some by another. The more often we see someone face-to-face, the more likely it is that we will telephone the person or communicate in some other medium”.

Allen & Henn (2006)

Right Space + Distinctive Equipment + Skilled People

PROXIMITY MATTERSBY 2016 UP TO 250 UNILEVER PEOPLEWILL WORK IN UOL EVERY DAY

Port Sunlight

Materials InnovationFactory

SAME FACILITIES – DIFFERENT OUTCOMESNO IP CONFLICT !

Impacts - Unilever

10 x Speed of DiscoverySupporting large R&D pipeline value across six categories

Impacts – Liverpool

Built Liverpool’s Research prowess

Porous organic materials. From concept (2008) to leading world position (2011) in less than 3 years , 20 publications

Not possible with standard approach

PORTS – HARNESSING HOTSPOTSBOSTON

Leading Edge Academic and Vibrant SME community spear headed

by MIT and Harvard

( MIT alumni creates the11th largest economy in the world)

Robust Financial Investment with Over 100 VCs and Top Five NIH Funds;

Gravitation Center for Pharmaceutical and Health Care IndustriesA Major Hub for Manufacturing and Defense Researches

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=mQLmQFUXzDfnYM&tbnid=LVLE_thmsnOCuM:&ved=0CAUQjRw&url=http://e27.co/2010/05/11/indonesian-startups-echelon-2010-edition/&ei=cnpCUt-UOY_I4AO5iIHYAQ&bvm=bv.53077864,d.dmg&psig=AFQjCNFRQ1qBpDGtXaDmK9vbFfRvByrFPw&ust=1380174766820945

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=6Hapy5AZWkGK5M&tbnid=BGiobbG1anx2zM:&ved=0CAUQjRw&url=http://en.wikipedia.org/wiki/Harvard_University&ei=DiVLUt7yHYbS9gT9z4FI&bvm=bv.53371865,d.eWU&psig=AFQjCNFjNVOfBv5lPLUXTqVmg3cwXCecJQ&ust=1380742795039601

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=mQLmQFUXzDfnYM&tbnid=LVLE_thmsnOCuM:&ved=0CAUQjRw&url=http://e27.co/2010/05/11/indonesian-startups-echelon-2010-edition/&ei=cnpCUt-UOY_I4AO5iIHYAQ&bvm=bv.53077864,d.dmg&psig=AFQjCNFRQ1qBpDGtXaDmK9vbFfRvByrFPw&ust=1380174766820945

http://www.google.com/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=BkJfbJWFmnVX3M&tbnid=Trx7ij1rh2OOPM:&ved=0CAUQjRw&url=http://libraries.mit.edu/archives/exhibits/seal/&ei=ViVLUt3UCITW9ATp5oHQCA&bvm=bv.53371865,d.eWU&psig=AFQjCNHA437SdvF506t8lsoB7mV_k_lpUQ&ust=1380742834291585

PORTS - NEGOTIATING WITH START UPS AND SME’S – SPECIAL SKILL AND PATIENCE

Area Unilever SME

IP Ownership

Split – Own arising IP we pay for

Own it ALL

Processes Deep, lengthy, onerous

FEW, nimble

Culture Cautious, € Billion brands at stake

Daring – Returns to make, ideals to achieve

Tech Valuation

Realistic in context of market

Mostly unrealistic and overpriced

Motives Long term, sustainable innovation

Quick win / exit

Exclusivity Desired / Demanded

Keep Options Open

COLLABORATE TO INNOVATE PORTAL> 2000 SUBMISSIONS SINCE LAUNCH

UNILEVER MARKETING FOLLOWINGTHE LEAD WITH A VIRTUAL COLLABORATION TOOL

MAJOR “WANTS” - EXAMPLES

Category Want

Foods Clean label in Foods – preservation and manufacture without chemistry

Next gen foods processing - Elimination of all foods waste and using all foods components

Refreshments

Routes to > 70% energy reduction in Ice Cream cold chain

Low fat zero cal great tasting ice cream / ice cream from beyond diary without taste / sensory compromise

Dramatic increase in tea yield from tea process without taste compromise

Homecare 50% improvement in water reuse / reduction in Laundry

Superior cleaning of tough stains at low temperature

Zero chemical / zero VOC air purification and freshness

Personal Care

50% improvement in water reuse / reduction in bathing

Hair transformation (straightening) technologies with benign chemistry

New Technologies for deep dermal / follicular delivery

Premium / high performance products for PC – holistic beyond just premium packaging

COLLABORATE TO INNOVATE PORTALTHE LEGAL BIT

IN SUMMARY

IN SUMMARY

Innovation crucial to delivery of growth, profitability and the sustainable living plan

IP Underpins differentiation and is the currency of open innovation

Open innovation is embedding in the company – much IP is co-created or accessed rather than owned

We have learned flexibility. Different partner strategies require different tailored approaches to IP management

THANK YOU

Intellectual Property

Chris Smith

Business Outreach & Education

Help and Advice on IP

=

http://www.ipo.gov.uk/ip4b

IP Baseline Survey

96% of UK businesses do not know the value of their Intellectual Property Rights

Only 11% of UK businesses know that disclosure of an invention before filing will invalidate a patent.

74% of UK businesses could not correctly identify the owner of copyright when using a subcontractor

Only 4% of UK businesses have an Intellectual Property policy

What is intellectual property?


Patents

Trade

marks

Registered designs

CopyrightConfidentiality

Trade Secrets

Plant Varieties


Patents

Trade

marks

Registered designs


Trade Secrets

Plant Varieties

Trade marks

What is a Registered Trade Mark?

Any sign which is capable of being represented graphically

Any sign which is capable of distinguishing the goods or services

of one undertaking from another

“A Badge of Origin”

Domain names

Trade Mark registration is not company name or domain name registration

A domain name may beregistered as a Trade Mark

Incorporating another’s RTM into your domain name or meta-tag may be an infringement

UK Applications

Fees:

Application fees: £170 – Includes one ClassAdditional Classes £50 each (up to 45 Classes)

Timeline:

Examination within 2 months of filingRegistration (unopposed) in 5 months

Trade Mark Registration Overseas

Paris Convention - six months priority

OHIM – Community Trade Mark

e-filing fee €900

WIPO - Madrid Protocol


Patents

Trade

marks

Registered designs


Trade Secrets

Plant Varieties

Copyright

1.Literary Works – All works expressed in print or writing

2.Dramatic Works – A work capable of being performed

3.Musical Works – includes melody, harmony and rhythm

4.Artistic Works – A work of artistic craftsmanship (not quality)

Copyright

5.Films – Moving images produced by any means

6.Sound Recordings – From which sounds can be reproduced

8.Published Editions – typographical arrangements

7.Broadcasts – transmission of visual images, sounds or other

Who owns Copyright?

Usually the first creator or author...

…or their employer if produced in theordinary course of their employment

However, a contractor will retain ownershipunless their contract is explicit to the contrary

Even if the creator sells their rights, they have‘moral rights’ over how their work is used


Patents

Trade

marks

Registered designs


Trade Secrets

Plant Varieties

Registered designs

Registered Designs

Protects shape or configuration (3-D)and/or pattern or ornamentation (2-D)

No protection for function, materialsor technology of manufacture

No protection when form is dictatedby function (ie: no design freedom)

Multiple Applications

£60 for first design (£40 application + £20 publication)

£40 for subsequent designs (£20 application + £20 publication

Renewal fees every 5 yearsMaximum term 25 years


Patents

Trade

marks

Registered designs


Trade Secrets

Plant Varieties

Patents

Criteria for ‘patentability’

Patents are for “technological innovation”, though the Patents Act 1977 fails to define the word “invention”

Inventions must be new - not known anywhere in the world prior to the filing date

Inventions must have an ‘inventive step’ - not obvious, a simple adaptation or combination

Inventions must be industrially applicable and have a ‘technical effect’

Patent fees

Application fee – £30 or £20 (Electronic filing)

Search Fee - £150 or £130 (Electronic filing)

Examination fee - £100 or £80 (Electronic filing)

Renewals 5th Year - £70

10th Year - £17020th Year - £600

www.ipo.gov.uk - 0300 300 [email protected]

Thank You

Chris [email protected]

@The_IPO

mailto:[email protected]

“Innovation in Practice”Clemens Wangerin

Chief Operating OfficerStarship

INNOVATOR’S DAY 2014Case Study: Innovation in Practice

Clemens WangerinChief Operating Officer

The Starship logo is a registered trademark of Starship (UK) Limited.

Introducing Starship

• A Digital Entertainment & Technology company developing and publishing wholly-owned, original IP

• Founded in 2013 by Martin Kenwright, previously CEO and founder of Digital Image Design (1989 - 1999) and Evolution Studios (1999 – 2007)

• Award-winning core team with collective experience in multiple sectors and over 69 entertainment product releases with multi-million £ in retail software sales

• Based in the Baltic Triangle, Liverpool

Winner Racing Game of the Year: Motorstorm

Milia d’OrNomination Best Sports Game:

Motorstorm

AWARDS

Winner Best Handheld Developer: Studio Liverpool / Wipeout Pure

Best Action Game: Wargasm

Starship (UK) Ltd – Innovator’s Day 2014 – Case Study: Innovation in Practice – 16 th July 2014

What is Innovation?

“The process of translating an

idea or invention into a good or

service that creates value for

which customers will pay.”

Source: Businessdictionary.com


Types of Innovation

• Little innovation (little i)Evolutionary, continuous, dynamic changes through incremental advances in technology

• Big Innovation (Big I)Revolutionary changes which are often disruptive and new


The Key Components

INNOVATION

AUDIENCE

TIMING

RELEVANCEThemes, settings or functionality relevantto the intended audience

A tightly defined demographic of appropriate size

Market introduction at best possible time


Innovation in Practice


Forget Me Not is a registered UK and EU trademark of Starship (UK) Ltd. Patent pending.

®

The Market

Over 200 specialist magazines

16.2m cookery/food/drinks books were bought for

£128m in 2011

Popular TV shows with millions of viewers

24/7 TV Channels

2,199 apps with ‘cooking’ in the title


Market Disruption

CyberCook aims to unite the entire cooking sector with the first truly interactive cookery platform.

Cook Books(19th

Century)

TV / Multi Media(20th

Century)

Entire Cooking Sector (Retail, Celebrity Chefs, Consumer Brands, White Goods,

etc.)

CyberCook Platform

(21st Century)


The Product


Work In Progress Work In Progress

Work In Progress

CyberCook: the next-gen eco-system for cookeryFeaturing the world’s first hyper-realistic and time sensitive

cooking simulationWork In Progress

© Starship (UK) Ltd 2014. Do not distribute. © Starship (UK) Ltd 2014. Do not distribute.

© Starship (UK) Ltd 2014. Do not distribute.

The journey has begun …

… join us.www.starship-group.com

Inviting world-class partners who can add value and share our vision

Clemens WangerinChief Operating Officer

The Starship logo is a registered trademark of Starship (UK) Limited.

Introducing Starship

• A Digital Entertainment & Technology company developing and publishing wholly-owned, original IP

• Founded in 2013 by Martin Kenwright, previously CEO and founder of Digital Image Design (1989 - 1999) and Evolution Studios (1999 – 2007)

• Award-winning core team with collective experience in multiple sectors and over 69 entertainment product releases with multi-million £ in retail software sales

• Based in the Baltic Triangle, Liverpool

Winner Racing Game of the Year: Motorstorm

Milia d’OrNomination Best Sports Game:

Motorstorm

AWARDS

Winner Best Handheld Developer: Studio Liverpool / Wipeout Pure

Best Action Game: Wargasm


To patent or not to patent

Robin Bartle Chartered and European Patent [email protected]

79

80

81

82

83

84

Questions

www.bartleread.comThese are presentation slides only and neither the information contained in these slides nor the presentation constitute legal advice.

© 2014 Bartle Read Limited

??

www.forresters.co.uk

Patent and Trade Mark Attorneys

“A Midsummer Night’s Nightmare”Ross Walker


Introduction

• Inventorship/Ownership– If it all goes wrong; it’s a nightmare!!

• Inventorship– Ownership flows from Inventorship

• Ownership– Employee/Employer relationship– Contractual agreements e.g. Universities and

Consultants

• Challenging ownership!


Inventorship


Inventorship

• Who is the inventor?

– “the actual devisor of the invention”

– Can be more than one inventor• Teams of people contributing to an invention

– Imperative that you get it right!


Inventorship

• Who is the “actual deviser” of the invention?

• IDA Ltd & Others vs. The University of Southampton– [EWCA] Civ 145


Inventorship

The facts:

“Unveiled: cockroach trap to beat the world”

“The creatures are lured onto the bridge of the wooden box by a bait. When their feet alight on the electrostatic talcum powder with which it is dusted they slip onto a fly paper and meet their end”

Source : THE TIMES


Inventorship

• The facts:– Mr X at IDA saw the article– Called the Professor behind the “electrostatic trap”

• Mr X specialist in magnetic powders realised that:– Electrostatically charged powders lose charge over

time• especially in humid conditions

– Wondered whether magnetic powders would work instead

– Magnetic powders not lose their “stickiness”


Inventorship

• The facts (cont.):

– The University tried the idea i.e. “verified it”– It worked!– They filed a patent with no reference to Mr X or IDA

• The Court of Appeal:

– Identify the “heart” of the invention– Mr X come up with the use of magnetic powders– The University had merely verified the idea through

routine experimentation


Inventorship

Conclusion

• Identify heart of the invention• Could be the person who came up with the idea• If additional work is required to practice invention,

then other parties could be entitled to be named as inventor

“Those who contribute enough information by way of necessary enablement to make the idea patentable would count as “actual devisors”, having turned what was “airy-fairy” into that which is practical”


Ownership


Ownership: employee/employer relationship

Dictated by statute - two scenarios

• Scenario 1– Invention was made in the course of normal duties or

specifically assigned duties; and– Reasonably expect the invention to arise from those

duties– Enquiry is started with reference to the contract

• Scenario 2– Senior management – Employee has a special obligation to further

employer’s interests


Ownership: employee/employer relationship

• Top tip!– Keep records: list duties– Keep the records updated

• You cannot circumvent the statute by contract– Employee’s rights cannot be diminished!

• Employee compensation– If invention of “outstanding benefit”– The employee can claim compensation– Latest you can apply is one year after patent has

ceased


Ownership: By way of agreement

• Non-employee/employer relations e.g.– Universities– Collaborating consultants

• Agreement must be in force on making the invention

• Top tips!– Make sure agreement deals with IP ownership!– Make sure confidentiality dealt with as well!


Challenging ownership!


Challenging ownership

• What?– UK and Foreign patent applications

• Up to foreign courts to enforce– Granted UK Patents

• When?– Applications: anytime– Patents

• Two years after grant unless the owner knew!

• Where?– The Comptroller


Challenging ownership

• The case– The onus is on applicant to prove they are a deviser

• Remedies– The Comptroller has widest possible discretion

• Add as owner: sole or joint• Grant licence• Refile


Thank you

[email protected] www.forresters.co.uk : @ForrestersIP


All’s well that starts well

Leslie Prichard

Patent Attorney

WP Thompson

Overview

• How to tell you have an invention• Getting the ball rolling: preparing and filing

the application• Overview of the patent application process• Overseas protection: when, where, how,

why!

How to tell you have an invention?

• Don’t dismiss too lightly• Different from what’s already known

• Novelty – the bare minimum

• Does it do something that related products (past or present) are not able to do?


• Compared to what’s already described:• Less expensive• More efficient• In fewer steps or fewer components/smaller

amounts• With less user effort (e.g. it is easier for the

customer to use)?


• Compared to what’s already described (cont’d):• … gives better performance• … gives better accuracy• … exhibits better reproducibility• … produces less waste/more environmentally

friendly• … is faster (e.g. a faster curing adhesive) or slower

(an adhesive with more open time)?


• Does it solve a problem?• Is there technical literature that suggests that

what you tried should have failed?• Are your co-workers surprised that the product

works?• Would it give you a competitive advantage?

If the answer to any of these questions is “YES” … you should consult a patent attorney

Getting the ball rolling…

• So that your patent attorney can either assess the idea for patentability and/or draft a patent application to maximise the scope of protection … it is really worthwhile documenting your invention correctly

• if possible … capture your invention in a document that highlights five themes

• This will help your patent attorney to understand the invention and to grasp the differences between your invention and what is already known

Documenting the invention

• 1. An overview of the invention and how it works• What is the actual invention?• Is it an article, a chemical composition, a new method of

doing something?• How did you make it or do it?• How did you test it to show that it solves the problem?

• (Ideally 2 or 3 concise sentences that describe and point out the novel features of the invention)


• 2. Background or “setting the stage”

• What is the technical problem which has been solved?• How have others tried to solve this problem in the past?• What was wrong with their solutions?

• (Summarise any background information related to the business and technical aspects of the invention)


• 3. Explanation of the business impact

• What is the business opportunity (£££)?• Increase sales?• Protect current business?• Why do need to obtain a patent?


• 4. Assessment of the state of the art

• Description of today’s solution to the problem – products, journals, websites

• What patents are there today?• Searches: esp@cenet or more in-depth studies?

• (Identify the prior art by listing document numbers and titles and a short factual statement about what they disclose)


• 5. Detailed Description of the Invention• Data• Tables• Figures• Graphs• Photographs

• (A description of your apparatus or method. Document the details of the experiments which illustrate the examples of the invention. Include figures, photos, tables, graphs, test methods, materials, etc.)

The application process

• Once the draft application has been reviewed and

approved, it can be filed at the UK IPO• Deadlines!• Clock ticking!

FILE APPLICATION

THEPRIORITY

YEARSEARCHES EXAMINATION

GRANT


• Sensible to request at the outset• UK IPO or EPO official search• Review at this stage• May prompt re-think or abandonment

FILE APPLICATION

THEPRIORITY


GRANT


• Before the filing anniversary (the “priority year”)…o Can expand disclosure (but …)o Not later – added matter ruleo Foreign filingso International (PCT) applications

FILE APPLICATION

THEPRIORITY


GRANT


• UK IPO’s assessment: patentable?• Amend and argue (feedback from you)• Different offices, different problems• Numerous examination reports

FILE APPLICATION

THEPRIORITY


GRANT


• Renewal fees payable after grant

FILE APPLICATION

THEPRIORITY


GRANT

Seeking foreign patent protection

• Most (but not all) industrialised countries are party to an international convention (“the Paris Convention”) enabling you to file patent applications in those countries within one year of the filing date of your United Kingdom application and thereby effectively backdate such applications to the filing date of the United Kingdom application

• Generally speaking, you will have one year from the filing of your United Kingdom application in which to file foreign applications

Foreign patent protection:separate applications in each country

• Foreign patent applications can be filed separately in each country where protection is desired

• Need to instruct local attorneys• Prosecution costs can be substantially greater than the

filing costs!• Issue (registration) fees, and annual renewal fees are

payable in most countries to keep the patent protection in force

Foreign patent protection:International (PCT) application

• Proceeds as a single application which can be effective in a large number of PCT contracting states (currently 148)

• The main benefit obtained by PCT is that it effectively buys time to keep your options open for an extra 18 months

• An international (PCT) application does not proceed all the way to grant as a single application, but instead splits up into a series of separate patent applications in each designated patent office. Each application is then completely independent of the others and undergoes whatever search and examination procedures are usually followed in the relevant patent offices.

• This “split”, called “entry into the national phase”, takes place 30 months after the priority date of the application. The “priority date” is the earliest filing date claimed, usually the date of the UK application on which the international application is based

• Prosecution costs are same as for separate applications

Foreign patent protection:European patent application• If you wish to apply for patent protection in several European countries there is an

alternative to filing on a country-by-country basis• By virtue of the European Patent Convention (EPC) it is possible to file and prosecute

a single application at the European Patent Office (EPO) effective in as many as 41 European countries

• A European patent application proceeds as a single application until a European patent is granted, whereupon it splits into a “bundle” of separate, independent patents in each of the chosen countries

• All proceedings can be conducted in English until a patent is granted. At the grant stage, some countries require a translation of the patent specification to be filed in a national language for the patent to be effective

• If patent protection in several European countries is required, it is usually more cost-effective to file a European patent application rather than to file separate national patent applications

• The main disadvantage of a European patent application is that the applicant is “putting all of his eggs into one basket” – if the application is refused then it is refused for all countries

Questions?

Our Liverpool office is now located at:

1 Mann Island T +44 (0) 151 236 6688

Liverpool F +44 (0) 151 236 8155

L3 1BP E [email protected]

Steve KuncewiczHead of Intellectual Property

Bermans

Private & Confidential. Not for distribution.©DWF LLP 2012 www.dwf.co.uk 127

Private & Confidential. Not for distribution.©DWF LLP 2012 www.dwf.co.uk

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Pirates, copycats, look-a-likes and counterfeiters - How to enforce against infringements

Name: Andrew McGregor

Solicitor – IP/Commercial Litigation

Date: 16 July 2014 Doc: 35772106


Enforcement – Trade marks



•Badge of origin

•Sign, word or logo

• A trade mark must be:

– distinctive

– not descriptive

– capable of graphical representation

– not customary in the trade

– not a shape resulting from the nature of the goods themselves

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•Registered trade marks:

– UK national trade mark

– Community trade mark

•Unregistered trade marks:

– Arise automatically provided you can demonstrate substantial use and goodwill in the mark

– Mark the sign “TM”

•Relevant legislation

– Trade Marks Act 1994 and Community Trade Mark Regulation

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•Nature of infringement

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Are the marks the same/similar

Are the goods to which the marks relate the same/similar

Scope for infringement?

Same Same Yes

Similar Same Yes – provided there is scope for confusion

Same Similar Yes – provided there is cope for confusion

Similar Similar Yes – provided there is scope for confusion

Same/Similar Same/Similar/Dissimilar Yes – provided earlier mark has reputation, there is use without cause, and takes unfair advantage/detrimental to character of earlier mark



What constitutes infringing use

•The use of the infringing mark is in the course of trade

•The use is in relation to goods and services

•There is no consent from the trade mark proprietor

•The use affects, or is likely to affect, the functions of the trade mark

Infringement by use of an identical mark for identical goods/services

•Are the marks in question identical visually, aurally and conceptually

•If not, does the use of the mark in question give rise to a likelihood of confusion

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Assessment of confusion

•There does not have to be evidence of confusion

•Likelihood of association

•Is there a distinctive reputation

•Overall assessment of the impression given by the marks

Reputation

• If unable to establish a likelihood of confusion, does the trade mark have a reputation in the UK and use of the mark in question, being without due cause, takes unfair advantage of, or is detrimental to, the distinctive character of the repute of the mark.

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Examples of infringement using the an identical mark

•Alternative ‘unofficial’ goods

•An unauthorised reference

•Counterfeiters

•The Internet

- Meta-tagging

- Keyword advertising

- Domain name ‘cyber-squatting’

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Examples of infringement using an identical/similar mark with similar/identical goods/services

•A direct competitor uses a sign similar to the established mark

•A non-competitor uses a sign which is the same as the established mark

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What can I do?

•Registration and renewals

•Consider registering domain names and keywords

• Actively monitor the market place

• Enforce your rights – beware of unjustified threats

• Develop clear strategies for brand and reputation management along with a clear enforcement policy

• Engage trade mark attorneys and solicitors

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Unjustified threats

• A threat which cannot be justified later at court - anything more than notification of the existence of a trade mark can form the basis of a threats action

• If such a threat causes loss, the person making the threat and their legal advisors may be liable

• A threats action can be brought by a third party (not just the recipient) if they are/or are likely to be adversely affected i.e. a customer


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How can I avoid infringement?

• Don’t use the same or similar marks to a competitor

• When choosing a name do an internet search of the proposed name to make sure no one else is using it

• Bear in mind that it is an infringement of a trade mark to use not only the same mark in relation to the same goods, but also a similar mark in relation to similar goods

• If you are serious about adopting a new mark, a trade mark agent can carry out a full search to identify any issues – speak to a solicitor or trade mark attorney

• Make a record of your pre-name selection process


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140

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Our legal experts combine real commercial understanding and deep sector knowledge to help clients anticipate issues, create opportunities and get the outcomes they need.

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©DWF LLP 2012DWF LLP is a limited partnership registered in England and Wales with registered number OC328794. The content of the Regulatory and Licensing Insert does not constitute legal advice and should not be relied on as such. Specific advice should be sought about your specific circumstances.

Pirates, copycats, look-a-likes and counterfeiters – how to enforce against infringements

• Patents and Design Rights

Colin Bell, Brabners LLP

16 July 2014

Patent Example

Registered Design Right Example

http://oami.europa.eu/bulletin/rcd/2004/2004_067/000181607_0001/images/000181607_0001_2_source.jpg






Registered Design Right Example

Patent Pending - Notice

Patent Granted - Notice

Pirates, Copycats, Counterfeiters and Look-a-Likes

Pirates, Copycats, Counterfeiters and Look-a-Likes

Enforcement Strategy

Enforcement Strategy

– What are your triggers– Territory– Different infringers – pick your battles– Probability approach – chances of success– Financial impact– Different dispute routes

• Trading Standards• Regulatory Bodies• ASA• Police• FACT

Avoid Litigation

• Litigation

– Too expensive

– Too slow

– Too uncertain

– Too incomprehensible (especially legal speak in decisions)

– Too adversarial

Lord Chief Justice (Lord Woolf)

Strategy – Do Nothing

Strategy – Do Nothing (smiling)

Strategy – Get in touch

Instructing Solicitors

Strategy – Letter of Claim

Strategy - Settle

90% of all lawsuits are settled without trial

Strategy – Court Proceedings

Photograph by Mike Peel

Strategy – Court Proceedings - IPEC

• Streamlined IP litigation procedure• Intellectual Property Enterprise Court (IPEC)

– Written pleadings– Full but concise statements of case– Statement of Truth

• Procedure up to trial– 6-10 wks for defence– 2 wks for reply– CMC (limit disclosure, x-examination, experts)– 1-2 day trial

• Costs– Recovery limited – Overall and stage caps

• Damages– £500,000

Strategy – Court Proceedings

Experts

Litigation Strategy

• Litigation – Points to keep in mind– Commercial objective– Budget– Beware

• Dangerous litigants• New Law

– See it from the other side– Who has more to lose – what has the other side got to lose– How much money has the other side got– Preliminary Injunctions – act fast– Litigation / alternative dispute resolution (mediation / arbitration)

• Treat as contentious negotiations (a means of reaching a commercial objective) – not just about winning and losing – settlements may be a “successful outcome”

• Analyse Cost / Potential Benefit / Potential Loss / Strengths / Weaknesses / Likelihood of success or failure

Defences

• Entitlement• Invalidity

– Not New or Inventive (Patents)– Insufficiency and added matter (Patents– Not New or of Individual Character (Designs)– Must Fit or Must Match (Designs)

• Prior Rights and Prior Use• Non Infringement

– Doesn’t include a feature of the claims of the patent– Not substantially similar, gives a different overall impression (designs)– Not copied (unregistered designs)

• Consent• Exhaustion of Rights

Sanctions and Remedies



Trolls and Groundless Threats

Famous Patent Case Example Dyson v Hoover

Example Patent Case – Spare PartsShütz v Werit (Intermediate Bulk Containers)

Example Design Right Cases

Apple v Samsung

J Choo v Towerstone Ltd







Pirates, copycats, look-a-likes and counterfeiters – how to enforce against infringements

• Patents and Design Rights

Contact: Colin Bell

Commercial and Intellectual Property

Partner

Telephone: 0151 600 3281Email: [email protected] Website: brabners.com brand-protection.brabners.comTwitter: @BrabnersIPCom

Turning Innovation into a Commercial Success

MC Vanguard Corporate Finance - Value Building 176

Successful innovation within a business should be a source of:

• Greater profit• Increased capital value

But this doesn’t happen by accident

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Sainsburys Microsoft Capita0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

120.0%

ProfitVariable CostsFixed Costs

It’s Not What You Do … (Well Actually)

MC Vanguard Corporate Finance - Value Building

3 very different business models

178

Selected Profit Growth Strategies


Sainsburys:

• Grow volumes• Reduce operating costs• Innovation in format – smaller store• Data innovation – customer loyalty

Microsoft:

• Product innovation• Leadership in cloud based services

Capita:

• Target growth markets• Enhance & diversify services through acquisitions• Business format innovation

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SME Examples


Printing Company - Terminate unprofitable customers

Engineering Company – Process innovation - 24 hour operation

Equipment Re-seller - Switch to higher margin manufacturer

Software Company - Acquire additional products within similar target market

Technology Installer – Grow recurring income

180

Profit Improvement Process


1. A clearly understood business model

2. Develop a structured plan to grow, based on the model

3. Management information, not just management accounts

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The Business Model


Answers the question:

“How do we plan to make money?”

Sets out:

What do we sell? Who do we sell to? Why do they buy from us? How do we sell? What resources does the business need to make these sales?

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Profit Improvement Plan


Answers the question:

“How do we make MORE money?”

Sets out:

How will we sell more to both existing and new customers? Where can we increase prices? How can we reduce resource costs? What can we stop doing?

Innovation should be a major part of the profit improvement plan

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Management Information


Answers the question

“Are we delivering the plan ?”

• NOT JUST MANAGEMENT ACCOUNTS

• Measure what matters to the profit improvement plan

Some examples:

Gross profit by customers or contract Delivery cost by customer Enquiry conversion rates Sales cost per new enquiry Overtime costs

Do we understand where we make money and where we lose?


Sometimes less is more…

1 2 3 4 5 6 7 8 9 100

50

100

150

200

250

300

Profit

Customers

Sales


Growing Business Value

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Growing Business Value


Price/Earnings Ratios

Sainsbury’s: 8 x Earnings

Microsoft: 16 x Earnings

Capita: 40 x Earnings

SME Trade Sale valuations are typically based on multiples of 3 to 8 times maintainable earnings.

The capital value of £100,000 growth in maintainable profits is £300,000 to £800,000 plus.

13/04/2023 MC Vanguard Corporate Financewww.mcvanguard.co.uk

187

Moving the Multiple – 12 Points that MatterFeature/Rating 1 2 3 4 5 6 7 8 9 10 10+

Dependency on Founder Owner Driven Business Non-Executive Owner

Management Gaps in team Full Team with Experience

Systems Weak or Informal Established & Robust

Customers Few & weak relationships Many Strong Relationships

Suppliers High Dependency Secure Supplies

Financial Information Volatile Results Improving Trend

Marketplace Mature & ‘Me Too’ Growth Market

Competition Many Strong Competitors Defendable Niche

Workforce High Turnover Key Staff tied in

Growth Future Growth Limited Exciting Growth Options

Intellectual Property No Defendable IP Established IP

Regulation Regulatory Threats Market driven by regulation

http://www.mcvanguard.co.uk/

Dependence on Founder

Management

Client Base

Workforce

Suppliers

Financial Performance

Competition

Growth

IP

Regulation

0

5

10


Identifying Scope for Improvement

13/04/2023 MC Vanguard Corporate Financewww.mcvanguard.co.uk

189

Moving The Multiple - Examples

Quality of Earnings

Consistent Profits Upward Growth Trend


Technology Own Product Proven R&D Function

Customers

Get Contracts Signed Broaden the Base Develop Recurring Income Streams


13/04/2023MC Vanguard Corporate Finance

www.mcvanguard.co.uk 190

Which Features Matter Most in Your Business?Criteria Weighting Rating

Dependency on Founder

Management

Systems

Customers

Suppliers

Financial Information

Marketplace

Competition

Workforce

Growth


Regulation

Others


13/04/2023MC Vanguard Corporate Finance

www.mcvanguard.co.uk 191

Challenges:

1. Developing an intellectual property strategy that encompasses all types of IP

2. If left unprotected, a good invention or creation may be lost to larger competitors that are in a better position to commercialize the product or service at a more affordable price, leaving the original inventor or creator without any financial benefit or reward

3. Insufficient information on the relevance of IP in day-to-day business

4. High costs associated with obtaining and enforcing IP rights

5. Ensuring that the senior management team recognizes the importance of intellectual property protection

Key Success Steps:

1. Review the businesses intellectual property, such as patents, copyright, trademarks etc. on a regular basis

2. Maintain a high level of awareness of competitors, market and technology trends

3. Adequate protection of a company's intellectual property is a crucial step in deterring potential infringement and in turning ideas into business assets with a real market value

4. Taking full advantage of the IP system enables companies to profit from their innovative capacity and creativity, which encourages and helps fund further innovation.

5. Effective IP management enables companies to use their intellectual property assets to improve their competitiveness and strategic advantage, a company's portfolio of IP must be viewed as a collection of key assets that add significant value to the enterprise

Growth Areas: Intellectual Property (IP)


http://www.google.co.uk/url?sa=i&rct=j&q=intellectual+property&source=images&cd=&cad=rja&docid=_o805O8DQ8NnqM&tbnid=XOUFvlqrBwoF-M:&ved=0CAUQjRw&url=http://www.windtraveler.net/2012/09/intellectual-property.html&ei=ISwuUZLeCsa80QWErIDoDg&bvm=bv.42965579,d.d2k&psig=AFQjCNFt8YG0CNbzYx14bXT_K_kzAC1N9g&ust=1362066835832246


Business Exit Planning – Summary

• A Structured Approach to preparing the business for exit over several years

• Profit improvement plan is a key part• Growth in reported profits takes time • Work on the features that move the multiple

There is an alternative…..


THANK YOU FOR LISTENING

Research & Development Tax Credits & Patent Box

Innovators Day – 16 July 2014

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A Brief History:

Mitchell Charlesworth Chartered Accountants and Business Advisors has offices in Liverpool, Manchester, Warrington, Chester and Widnes. In 1885 Charles Hackett Mitchell commenced practice in Liverpool. He was joined in 1910 by Bernard Orton Bunting and the firm continued as Mitchell & Bunting for many years at 27 Lord Street, Liverpool. During the ensuing years there have been a number of mergers with other local firms and subsequent to one of those mergers in 1976 the name was changed to Mitchell Charlesworth. The firm is now one of the largest locally based practices of Chartered Accountants and Business Advisors in the North West with 16 partners and over 160 staff. In spite of the considerable growth of the firm over the years, we maintain a policy of personal service to clients and a genuine interest in their affairs.

Introduction

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Tax Team

Tax is one area of business management where only advice of the highest technical calibre is acceptable. Anything less and you risk damage to your reputation as well as losing out financially. Our tax team are experts in the field of personal and corporate tax. Their sole aim is to ensure our clients don't pay a penny more in tax than they need to.

Graeme Davies

Graeme has been providing taxation advice to companies, individuals and trusts for ten years. He has extensive experience in advising companies and stakeholders on many areas of tax including mitigating corporation tax liabilities through pre year end planning, corporate structuring issues, remuneration planning for employees and shareholders, general tax planning and exit and succession strategies for owner-managers.

Introduction (cont’d)

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Two main forms of tax relief for innovatorsResearch & Development Tax CreditsPatent Box

Politically popular tax reliefProposed, implemented and enhanced by successive governments

HMRC approachPatent Box – yet to be seenR&D – specialist office, pushing at an open door!

Tax relief for innovators

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SME or Large schemeSME scheme more generous

SME schemeLess than 500 employees, and eitherTurnover < €100m, orBalance sheet total < €86m

Large schemeEveryone else!

R&D tax credits

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SME scheme tax reliefAdditional 125% deduction for CT purposesLosses? 14.5% tax credit (up from 11%!)An additional source of funding?

Large schemeAdditional 30% deduction for CT purposes, or10% above the line tax creditLoss making companies take note!

R&D tax credits

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SME scheme tax relief – example 1SME co taxable profits £300,000Corporation tax liability - £60,000Qualifying R&D expenditure - £100,000Additional deduction (125%) - £125,000Corporation tax liability - £35,000Corporation tax saving - £25,000

R&D tax credits

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SME scheme tax relief – example 2SME co taxable profit - £50,000Corporation tax liability - £10,000Qualifying R&D expenditure - £100,000Additional deduction (125%) - £125,000Corporation tax liability - £0Corporation tax saving - £10,000

Tax creditCreated a loss of £75,000, eitherCarry forward to use against future taxable profits, orSurrender for a payment from HMRC of £10,875

R&D tax credits

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SME scheme tax relief – example 3SME co loss – (£100,000)Corporation tax liability - £0Qualifying R&D expenditure - £100,000Additional deduction (125%) - £125,000Corporation tax liability - £0Corporation tax saving - £0

Tax creditTrading loss of £225,000, eitherCarry forward to use against future taxable profits, orSurrender for a payment from HMRC of £32,625

R&D tax credits

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Qualifying R&D projects“advance the overall knowledge or capability in a field of science or technology where there is a scientific or technological uncertainty”

HMRC approachThe 4 questions!What was the scientific or technological advance sought?What were the scientific or technological uncertainties?How and when were the uncertainties overcome?Why was the knowledge not readily deducible?

R&D tax credits

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Qualifying R&D costsCategories of qualifying expenditure

Staff costsIncludes pension & NI

Externally provided workers65%

Consumables used directly in R&D

Power, water & fuel used directly in the R&D

Computer software

Subcontracted R&D costs – 65%

R&D tax credits

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Areas to be carefulGrant fundingSoftwareRoutine modificationsAre you the subcontractor?

R&D tax credits

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OverviewElective 10% tax rate on certain profits from patentsCorporation tax onlyPhased implementation:

60% FY 201370% FY 201480% FY 201590% FY 2016100% FY 2017

Designed for SME’s?

Patent Box

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Qualifying companyHolds qualifying IP rightsHolds an exclusive licence over qualifying IP rightsHeld either of the above and is receiving income in the current accounting period which relates to an event in an earlier accounting period when the company was also a qualifying companyDevelopment conditionActive ownership condition

Patent Box

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Calculating the reliefDesigned by Archimedes?

Two methods! Standard methodStreaming method

I’ll keep it as simple as possible – I promise!

Patent Box

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Standard Method (in short)

Find X%Apply it to the profitsTake off the routine return to give QRPTake off the marketing return to give relevant profits (RP)

Perform the calculation:

Easy, innit?

Patent Box

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Streaming Method (in short)

Income and expenses are streamed to calculate profits derived from patents exactlyTake off the routine return to give QRPTake off the marketing return to give relevant profits (RP)

Perform the calculation:

Likely to give a better result if qualifying IP income has a better profit margin!

Patent Box

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ElectionElection into regime must specify first AP it will have effect and be made before the last date the return for that AP can be amendedElection out of regime must specify first AP it will have effect and be made before the last date the return for that AP can be amendedCannot elect into regime again for 6 yearsCorporate partners make separate elections

Pre-patent claimsCan also elect into regime when a patent has been applied for but not yet granted: both patent owner or licenseeUp to 6 years of allowances pre-grant of patentGiven in first AP that patent is granted

Patent Box

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SME position

If your going to go through the process its got to be worth it!

Chicken or Egg?

Estimate likely savings over a given period and take it from there.

Patent Box

Twitter @MitCharlesworth Connect on LinkedIn Visit: www.mitchellcharlesworth.co.uk

Graeme Davies0151 255 2300

[email protected]


How Liverpool Business and IP Centre can help you

Business and IP Centre Liverpool

National Network

From the first spark of inspiration ….

…..to successfully launching and developing a business

Information to start and grow your business

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[email protected]


“Q1 2013 showed the lowest ever level of use of external finance by SME’s” – SME Finance Monitor, Aug ‘13

“Access to finance is a “major barrier” to growth for more than one in five small companies” – FT, Mar ’12

“Less than one in five SME’s have attempted to raise finance in the last year – with 40 per cent of applications rejected” – RealBusiness, Sept ‘13

The problem

Crowdcube is the world’s first and leading equity crowdfunding platform giving entrepreneurs a new way to raise investment

Fully authorised and regulated by the Financial Conduct Authority

The solution

The solution

Creating a buzz

Success so far

£28 millionfunded so far…

£250,000largest single investment

+78,000members

120+£1.9 million

biggest deal

£2,800average investment

Successfully funded deals

£180,000average deal

Stage of Growth

By Category

Growth

Source: Beauhurst, UK Equity Investment Review 2013, February 2013

UK’s ‘Most Active Seed Investor’ in 2013Beauhurst report stated Crowdcube has “dominated the UK equity crowdfunding marketing since launch and was responsible for 70% of crowdfunded deals in 2013.”

2012 2013 Growth

investment £2.2m £12.2 + 562%

deals 22 54 + 145%

average investment £1,800 £2,800 + 56%

Success so far

Why do investors love us?

“Crowdcube is a breath of fresh air; it’s a convenient, easy-to-use and makes investing far more accessible.”

Rupa GantraCrowdcube Investor

Leading the transformation of equity finance in the UK and abroad

Giving entrepreneurs a new route to finance

Satisfying investor needs

Summary

Thanks! Questions?

Mike Royston - Business Development

Manager

@mike_crowdcubeMike@Crowdcube

www.crowdcube.com

Text

£86,000 TSB SMART Award...

... 6 months to raise match

Angel Funding...

Supplier Management

[email protected]

Why your Innovation needs your CourageStephen Ashcroft BEng MSc FCIPS @ProcureChange

How to manage IP issues

to protect your innovation > Keep an audit trail

> Document the IP development

> Employees under control

> No contract without NDA in place

> Control presentations to 3rd parties

> Identify participants!

Key considerations > Taking financial advantage

– licence or sell

> NDA with possible suppliers

> Get legal advice – control their costs

> Learn to negotiate

> Understand the contracts

http://www.inc.com/uploaded_files/image/business-man-with-hands-on-temples_pop_19965.jpg

Pragmatic advice > How long before the IP can be commercially used?

> Do you have a robust business case?

> What will the whole process cost?

> What expert advice and support do you require? 251

Case study: salient points > International design house – designers > SME who had the idea > Design contract handed to SME > Major negotiations > Funding of design > Proof of concept

@ProcureChange

Group: Risk in Procurement Network

Sign up to our e-newsletter @ www.brianfarrington.com

Documents

Innovators' Day - Innovate, Protect & Prosper - 16 July 2014