Many of our clients have made use of the UK Intellectual Property Office’s IP Audit scheme, in which funding is available to help SMEs to review their existing intellectual property and to develop an IP strategy. Clients generally find the IP Audit process useful, but implementing the recommendations of the Audit can be challenging. This is where the recently launched “IP Access” scheme comes in.
IP, such as patents and trade marks, are long-term investments for any business. Whilst the potential long-term gains are often clear, the short-term costs can be prohibitive for a small business with many demands on limited resources. This can act as a barrier to the implementation of IP Audit recommendations.
The IP Access scheme recently launched by the UK Intellectual Property Office aims to address exactly this problem.
The fund offers up to £5000 (including VAT) to businesses towards a range of different types of IP expenditure. To qualify for the scheme, a company must have had an IP Audit prepared under the IP Audit scheme. Thus, the scheme is aimed squarely at helping companies to implement the recommendations of an IP audit.
Applications for the IP Access fund are now open, but are time-limited; applications must be submitted by 31 March 2022.
If you have had an IP Audit funded by a UKIPO partner organisation (such as Innovate UK) and are interested in obtaining assistance with implementing recommendations in the Audit report, please get in touch!
You can read our article on IP audits: What? When? and Why? Here.