Intellectual Property (IP) Minister, Lord Younger last week announced £150,000 of funding to create a one-stop-shop web site designed to make it easier for consumers to get information about rights ownership and copyright licences.
In his review of IP and Growth in May 2011, Lord Hargreaves recommended that the UK should establish an industry-led solution to improve copyright licensing, estimating that it could add up to £2.2 billion a year to the UK economy by 2020, with a particular benefit to the creative industries.
The Hub, will act as a source of information about rights ownership to support open and competitive markets for copyright licences.
This will cut costs for businesses by creating a more efficient online market place where those looking to use copyright works in new creations or services, for example a company providing a multimedia service for a wedding, will have access to a greater range of licensing options, through the Hub, in a straightforward online transaction.
Lord Younger said that the Copyright Hub will simplify copyright licensing for consumers and will give them a place to go to if they are looking for information about obtaining a licence, particularly if multiple rights are involved.
Richard Hooper, Director of Copyright Hub Ltd said that the Copyright Hub, linking to a wide array of databases and digital copyright exchanges, has the clear aim of helping consumers, rights users and small businesses find their way through the complexity of copyright and thus allow them to license copyrighted works much more easily and at a lower transaction cost.
While Kevin Fitzgerald, Chief Executive Officer, Copyright Licensing Agency (CLA) said that the Agency welcomes the Copyright Hub because it will simplify access to copyright works, benefiting both consumers and creators, which will have a positive economic impact on the whole UK economy.