Posted on September 02, 2024
IP Advance
The UK Intellectual Property Office (UKIPO) has launched a new pilot scheme, IP Advance, to provide financial support to help innovative, high-growth UK-based small and medium enterprises (SMEs) identify and protect their intellectual property (IP). The scheme has an initial phase, IP Audit, in which companies are helped to identify their IP and a second phase, IP Access, in which companies are provided with funding to protect their IP or develop their IP strategy further.
IP Audit
Innovative companies generate new ideas, inventions, products, brands, data and information all the time. Some of those innovations may best be protected by applying for registered rights, such as patents, registered trade marks and registered designs, while some may best be protected in other ways (for example, by keeping things secret). The IP Audit, conducted by a professional IP adviser, such as a patent or trade mark attorney, allows the SME to identify those innovations and to develop a strategy to protect them. IP Audit provides part-funding of £2250 inc. VAT from the UKIPO, with the SME contributing £750 inc. VAT.
The IP Audit is, however, about much more than identifying patentable inventions or registerable trademarks; it’s about developing an IP strategy that is not only mindful of IP law, but is mindful of the commercial aims of the SME. An IP Audit will typically involve the development of a timetable and costings for filing applications, such as patent, trade mark or design applications. The adviser can also examine any interactions and agreements that the company has with third parties, and can help identify any possible threats, such as earlier third party trade mark registrations or earlier third party patents that would stop the SME from doing what it wanted. While an IP Audit typically does not allow those third party threats to be assessed in detail, it does provide the SME with a greater understanding of possible business threats.
The IP Audit will provide a detailed report written by the professional adviser, giving advice relating to the SME’s IP and providing a strategy as to how that IP may best be protected. A follow-up meeting with the professional adviser will also be provided.
While IP Audits are particularly valuable for early-stage companies, there are also valuable for more established companies, where a fresh, independent assessment of their IP can be worthwhile.
IP Access
IP Access is designed to provide financial support to further develop IP strategy or to implement recommendations made in an IP Audit (such as the filing of patent, trade mark or design applications). IP Access provides up to £2250 inc. VAT part-funding, with the SME making a contribution of at least 50%.
Which one or both?
Companies can apply for one or both of IP Audit and IP Access funding. Just because you were awarded IP Audit funding does not mean that you will secure IP Access funding, and you are not stopped from accessing IP Access funding if you didn’t get IP Audit funding.
Applying for funding
While the scheme is funded by the UKIPO, applications for funding should be made via the appropriate regional partner.
In England, contact Innovate UK Business Growth via their National Enquiry Gateway at contact@innovateukedge.ukri.org.
For the Highlands and Islands region of Scotland, contact Highlands and Islands Enterprise via their website at www.hie.co.uk/contact-us/general-enquiries/, and for the South of Scotland region, contact South of Scotland Enterprise via their website at www.southofscotlandenterprise.com. For elsewhere in Scotland, contact Scottish Enterprise via their website www.scottish-enterprise.com/contact-us or email the Scottish Enterprise Intellectual Property Specialist Team at IPTeam@scotent.co.uk.
In Northern Ireland, contact the Invest Northern Ireland Intellectual Property team on tau-ip@investni.com.
In Wales, contact the Welsh Government at intellectual.property.information@gov.wales. For information about their Business Wales support programmes visit businesswales.gov.wales.
How Abel + Imray can help
Our attorneys have extensive experience of performing IP audits and of developing strategies to protect your innovations, now and in the future, ensuring that your business is in the best possible position with regards to its IP. To find out more, or to discuss your business’ needs, please contact us.
