WheelRight in top five ranking of UK’s first IP league table
Leading tyre pressure monitoring solutions provider WheelRight has achieved a top five placing at the UK’s first intellectual property (IP) league table. The company, which has developed a ground-breaking ‘drive over’ tyre pressure monitoring technology used by both motorists and HGV drivers, was ranked fifth in the ‘best trade secret’ intellectual property asset class.
Recognising businesses that ‘display keen awareness of the importance of trade secret protection’, WheelRight’s ranking is testament to the IP protected technology that is core to the Oxfordshire-based company’s operations.
WheelRight’s monitoring device has recorded more than 140,000 tyre pressures since it was launched at Keele in March, averaging 775 checks a week. To date the system has recorded tyre pressure for 2,992 HGVs and 25,889 cars, identifying instances of serious under-inflation and potential tyre failure. The WheelRight pilot at Keele is free to use, has been extended and will run until the New Year.
The league table was devised by consultancy firm Metis Partners, in association with Business Quarter magazine, and celebrates UK companies’ that best harness their intellectual property assets. Alongside trade secrets, businesses that achieved a place in the Top 50 are also judged on key IP asset classes including brand and reputation, patents, software and critical databases. Companies were ranked in each of the individual categories to generate a score that determined their place in the overall table, with WheelRight coming 7th overall.
Other companies that earned a place in the league table’s inaugural top ten include oil and gas tech specialist LUX Assure and savings and investment expert Standard Life.
John Catling, WheelRight’s chief executive, said: “Achieving fifth place in the trade secrets category is great news for WheelRight. We’re incredibly proud of the innovative and collaborative culture within our business and are delighted to see it recognised on a national scale. 2015 has been a very busy and exciting year for WheelRight, with the launch of our pilot scheme at Keele Services on the Southbound M6, and this definitely adds to that.”