Innovate UK EDGE have teamed up with the UK Intellectual Property Office (UKIPO) to offer innovative British businesses a grant to subsidise the cost of a professional IP audit.
If you are successful, you will receive a grant of up to £2,500 as long as you contribute £500 towards the total cost of your IP audit.
If you need additional support, you could also be eligible for the UKIPO's competitive funding scheme, IP Access. If you are eligible, you could receive a further £5,000 to help you implement the recommendations made during your IP audit.
WHY DO YOU NEED AN IP AUDIT?
In this increasingly competitive world, you must harness your intellectual property and ensure it is in the right shape to maximise the commercial value of the innovation at the heart of your business.
Success is now dependent on having a clear, solid and properly structured IP strategy.
Your IP will define the value of your business. It will give you the perfect platform for growth. It will provide you with a commercial advantage. It will allow you to create exclusivity. It will give you the direction you need to innovate further.
Most importantly, it will give you security. It will protect your products or processes from the unwanted attention of your competitors and potential infringers.
And, if you are seeking investment to start up or scale up, understanding your IP position will help attract investors and see you confidently through the due diligence process. Investors insist on knowing what IP you have, who owns it and how you plan to use it.
The first step towards creating the strongest possible IP strategy - a strategy that not only complements but clearly maps to your business plan - is an IP audit.
WHY SHOULD YOU CHOOSE POTTER CLARKSON TO CONDUCT YOUR IP AUDIT AND HELP YOU SET UP A CLEAR IP STRATEGY?
We are widely recognised as the European market leaders in IP audits and IP due diligence.
We have created a simple, straightforward audit structure which is compliant with the requirements of Innovate UK EDGE, and by the time we complete your audit you will have:
- An explicit IP strategy (in writing) that will help you make the right IP decisions and manage your rights responsibly, commercially and cost-effectively.
- A report that confirms your inventive concepts, the relevant IP rights and the ownership of your inventions and summarises the other legal or commercial issues you should address.
- A set of slides that provides an executive summary of your IP strategy that you can add to your deck for use in presentations to prospective investors.
- An accurate budget for your future IP-related costs.
However, there is one additional benefit you will enjoy by choosing Potter Clarkson. You will radically increase the likelihood you will win the grant.
As we have delivered a huge number of Innovate UK EDGE/UKIPO IP audits, we know what to say to support the application.
We will share that insight and help you draft your application without charge because we are confident that once you are successful, you will ask Potter Clarkson to conduct your IP audit.
If you would like us to conduct your Innovate UK EDGE/UKIPO IP audit or help you apply for your IP audit grant, please contact us today.