It is an often underappreciated fact that virtually every business generates Intellectual Property (IP). Recognising that and identifying the IP generated are important first steps on the path through the (sometimes puzzling) maze that is IP. Without a good map, you can be lost before you even get going.
Fortunately, a Government funded guide is at hand. Through the IP Audits Plus scheme, innovative businesses can have access to funding typically up to £2500 inc VAT for an audit of their IP position.
Mewburn Ellis LLP is one of the firms of patent and trade mark attorneys that can provide IP Audits under the government scheme. The IP Audits are conducted via the UK Intellectual Property Office (IPO).
What is an IP Audit?
An IP Audit is a review carried out to look into the existing IP assets of your business and provide advice and guidance towards identifying and maximising the value of that IP. It is also intended to help ensure that potential IP assets are identified and properly managed.
How do you get an IP Audit?
You can apply for an IP Audit only if you are engaged on one of the IPO’s partner support schemes. They are Innovate UK Edge (formally Enterprise Europe Network) the Welsh Government, and Scottish Enterprise [including Highlands and Islands Enterprise]. At the partner scheme your nominated contact may suggest to you that they are suitable for an IP Audit.
If you go ahead with the IP Audit, your nominated contact oversees and submits an application to the IPO on your behalf. If the IPO accepts the application, you choose an IP Professional to conduct the IP Audit. Mewburn Ellis LLP is one of the Government’s approved providers.
What do you get?
An IP Audit conducted by Mewburn Ellis LLP will cover a wide range of areas. For example:
- identification of what IP you currently have
- explanation of what potential you have for registering that IP
- discussion of potential issues involving other people’s IP
- a guide to costs involved with taking further action
- an introduction to IP capture and strategy
Of course, an important factor is that the IPO will pay most of the bill. At Mewburn Ellis LLP we will always work within the typical £3000 inc VAT funding limit. So, IP Audits we provide through the IP Audits Plus scheme will not come at extra cost to you beyond the typical contribution.
Please contact us for more information.
This information is simplified and must not be taken as a definitive statement of the law or practice.