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An update on the UK IPO’s IP Audit Scheme

Picture of Bethany Wheeler-Fowler

By Bethany Wheeler-Fowler

3 Sep 2024 | 1 minute read

The United Kingdom Intellectual Property Office (UK IPO) has launched its new financial support scheme, IP Advance, which is directed at small and medium-sized enterprise (SMEs).

IP Advance is intended to increase the participating business' awareness of IP so that they have a better grasp on what IP they have and will find out how to develop and implement an appropriate IP strategy.

Levels of support

Access to a part-funding of £2,250 (inc VAT) towards the cost of an IP audit, conducted by a suitably qualified IP professional.

This is subject to the SME contributing £750 (inc VAT) towards the audit.

This will include a bespoke report with recommendations, cost projections and a suggested timeline for implementation and a follow-up meeting to discuss the recommendations.

Access to up to £2,250 (inc VAT) for IP professional advice to progress an IP management strategy or implement recommendations from their IP audit.

This is subject to the SME contributing to at least 50% towards the cost of the services.

Eligibility

In order to be eligible for the support, the business must be classed as a SME and it must make an application to one of the following providers:

  • Innovate UK Business Growth
  • Welsh Government
  • Scottish Enterprise
  • Highlands and Islands Enterprise
  • South of Scotland Enterprise
  • Invest Northern Ireland

The provider will then assess the application and decide whether or not to offer any funding.

Before applying for the funding, the UK IPO recommends that SMEs complete its "IP Health Check" (accessible here after creating account) so as to obtain a tailored report on how to protect and use its IP.

If you would like any further information about the scheme or any IP auditing services we can offer to you outside of the scheme, please contact Bethany Wheeler-Fowler or Charlene Nelson who will be able to advise further.

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