LUX Assure ranked 2nd place in the UK’s first Intellectual Property league

Published: 13 November 2015

The IP100 is the UK’s first Intellectual Property League table which ‘aims to assist SME’s across the UK to recognise the true potential and value of their intellectual property’.

The IP100, compiled by Metis Partners and BQ Live, and sponsored by Clydesdale and Yorkshire banks, considers five key IP asset classes – brand & reputation, patents, critical databases, software and trade secrets.

Edinburgh-based LUX Assure which research, develop and market technologies to solve real-life problems for the oil and gas industry, has been ranked in second place.

"It means a great deal to us to be recognised as an IP rich business and to be part of an initiative to promote a culture of forward-thinking and innovation in the UK.

Innovation and IP are the life blood of LUX and we believe they are intrinsic to our success. As such, IP is considered a core business asset and incorporating IP into our company culture and business models has been vital. In particular, Trade Secrets and their protection form a fundamental part of our IP management strategy and it has been important for us to establish a strong trade secrets culture within LUX."

LUX came in second to Cambridge-based Data Conversion Systems, which makes digital audio equipment for the consumer market.

In third place was another Edinburgh-based firm, Speech Graphics, which creates facial animation technology for the entertainment industry. FTSE 100 insurer Standard Life, which is headquartered in Edinburgh, came in sixth place overall and was judged best in the brand and reputation category.

The league table is expected to inspire businesses in the UK to recognise the importance of innovation and exploitation of their intellectual property assets.

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