In July, the UKIPO introduced a new financial support pilot scheme directed towards SMEs to provide help with their initial IP costs: IP Advance.

IP Advance is designed to provide two levels of support for SMEs:

  1. IP Audit is an initiative which has been in existence for a number of years already, and now provides part-funding of £2,250 (including VAT) towards the cost of an IP audit, compiled by a qualified IP attorney.  The SME must contribute £750 (including VAT) to the overall cost, meaning that funding of up to £1,500 is available.

    An IP Audit is designed to provide a bespoke report on existing and potential IP with recommendations, cost projections and estimated timelines for implementation, as well as a follow-up meeting to discuss those recommendations in more detail.

  2. IP Access provides a contribution of up to £2,250 (including VAT) towards the cost of IP attorney advice to progress an IP management strategy or implement recommendations from the IP audit previously carried out.  The SME must contribute a minimum of 50% towards the cost of the services carried out by the IP attorney under IP Access in order to qualify for support.

Importantly, SMEs can apply for one or both levels of funding; receiving IP Audit funding is not a prerequisite to receiving IP Access funding.  Therefore, if one or both of these initiatives would be beneficial to strengthening the IP of your business, you should contact your patent or trade mark attorney to find out more.

If you have any questions or would like further information regarding any of the above, or would like to understand how we could help you, please do not hesitate to contact us, either by email at mail@bailey-walsh.com or by telephone on +44 (0)113 243 3824.