We are excited to inform our clients and contacts that the UK Intellectual Property Office (UKIPO) has started its IP Access scheme, which will provide SMEs with up to £5,000 (plus VAT) to assist protect and commercialize their intellectual property. The program is part of a new government initiative to aid recovery during a pandemic.
Who is able to apply?
Only businesses that have been given part-funding for an IP audit between April 2020 and March 2022 are able to apply for the financing under the IP Access scheme, which is based on the UKIPO’s IP audit program. A nominated partner organization, such as Innovate UK Edge (previously Enterprise Europe Network), Scottish Enterprise and the Highlands and Islands Enterprise, or the Welsh Government, must submit all applications.
What exactly does it cover?
IP Access funds can be used to pay for a range of services, including:
- The management of IP assets
- Commercialisation of IP
- Licensing and franchising agreements
- IP insurance
- IP valuation
- Tax relief advice
- Professional fees for IP services in the UK and abroad
Official filing expenses for patents, trademarks, and registered design applications are not covered by the funds. However, the scheme covers a wide range of duties, and SMEs are expected to be able to use the money for a variety of IP-related activities, such as patent drafting and freedom to operate initiatives.
What are the advantages?
The program is designed to help businesses in following up on the findings of their IP audit and implementing their IP strategy. Because IP Access is a competitive grant funding program, applicants must make a convincing case to be approved. We propose contacting an experienced attorney who can assist with you and a chosen partner organization to finish your application so that SMEs may fully benefit from this welcome effort.
The list of UK IP Firms can be found here.