A Glasgow-headquartered intellectual property law firm has unveiled ambitious plans to boost turnover by 150 per cent and double staff numbers by 2023 as it targets the European market.
Lawrie IP, an independent firm of patent and trademark attorneys, announced plans to expand its operations across Europe, aiming to increase sales from almost £2 million to around £5m over the next five years. It also plans to up its headcount from 17 employees to more than 30 in order to support growth over the same time.
The firm, which was founded by attorney Donald Lawrie in 2010, offers intellectual property (IP) services including advice on patents, trademarks, copyright and designs.
In particular, it has worked with Scottish small and medium sized enterprises in a variety of sectors, such as food and drink, life sciences and oil and gas.
To support its upcoming business development activities and illustrate the importance of IP to the food and drink industry, the firm recently brewed its own beer, Lawrie IPA, which includes a Blood Orange IPA called Without Prejudice.
However, Donald Lawrie said a key challenge for the firm’s growth plans, and for the wider IP industry in Scotland, was a shortage of qualified professionals.
He said: “One of the biggest issues for our industry is recruitment. There are fewer than 30 chartered trademark attorneys and only around 100 chartered patent attorneys in active practice in Scotland.
“We will be looking to attract qualified professionals to Scotland, as well as taking on trainees.”
He added that the business will also be looking to develop its UK presence alongside its international growth strategy. Lawrie said: “As well as continuing to expand our client base in Scotland, we aim to grow our business throughout the UK and overseas.
“We have shown that we have the ability to expand quickly since we launched in 2010 and I’m confident the business has the potential to achieve our ambitious growth plans.
“We pride ourselves on giving clear, accessible and, most importantly, useful IP advice to all our clients. This will remain our philosophy as we grow.”
Lawrie IP will deliver a workshop focusing on the value of protecting IP for new businesses at FutureX’s Startup Summit, which takes place today at Edinburgh’s Assembly Rooms.
The firm will also exhibit at the Scotland Food and Drink AGM in November.