Scottish Enterprise is Scotland’s national economic development agency. Their mission is to enable businesses to innovate and scale up to transform Scotland’s economy by:
- Creating an internationally competitive energy transition industry in Scotland.
- Scaling the impact of Scotland’s innovation strengths into high-growth industries of the future.
- Driving capital investment to deliver a step-change in Scotland’s productivity.
Scottish Enterprise places a huge emphasis on identifying Scotland’s highest growth opportunities and ensuring they are fully supported in terms of innovation, investment, and entering international markets.
The range of services they offer to Scotland’s high-growth and innovative companies includes advice on grants and funding, business development, technology, exports and international markets, and workforce. They also provide access to IP support.
WHAT INTELLECTUAL PROPERTY SUPPORT DOES SCOTTISH ENTERPRISE PROVIDE?
While the Scottish Enterprise team has expertise in IP strategy management across a range of sectors, they also offer introductions to specialist IP firms and, better still, make funding available to pay for this advice.
To find out more about the IP support Scottish Enterprise offers, you can contact them via their website. However, Scottish Enterprise has also teamed up with the UK Intellectual Property Office (UKIPO) to offer innovative Scottish businesses a grant to subsidise the cost of a professional IP audit.
IP AUDIT GRANT FROM SCOTTISH ENTERPRISE
Scottish Enterprise has teamed up with the UK Intellectual Property Office (UKIPO) to offer innovative Scottish businesses a grant to subsidise the cost of a professional IP audit. The new financial support scheme is called IP Advance, the pilot of which launched on the 15th July 2024.
IP Advance is tiered so that companies can obtain exactly the right level of support to help them develop and, if appropriate, implement their IP strategy.
The two levels of support available are:
- IP Audit provides part-funding of £2,250 (including VAT) towards the cost of an IP audit, conducted by a suitably qualified IP professional. The business must contribute £750 (including VAT) towards the overall cost of the audit. The business will receive a bespoke IP Audit report with recommendations, cost projections and a suggested timeline for implementation. As part of IP Audit, the business will also have a follow-up meeting to discuss the report’s recommendations with the IP professional.
- IP Access provides a contribution of up to £2,250 (including VAT) for IP professional advice to progress an IP management strategy or implement recommendations from their IP audit. The Business must contribute a minimum of 50% towards the cost of the services carried out by their IP professional under IP Access to qualify for support.
Businesses can apply for one or both levels of funding and you can find out more on the Scottish Enterprise website.
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 correctly structured IP strategy.
Your IP will drive the value of your business, providing the perfect foundation from which to grow. It will also define your commercial advantage and allow you to create exclusivity. It will give you the direction you need to innovate further.
Most importantly, it will give you security by protecting your products, services, and 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 and a strategy that clearly maps to your business plan is performing 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 leader in IP audits and IP due diligence.
We have created a simple, straightforward audit structure that is compliant with the requirements of Enterprise Scotland, 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 that you will win the grant.
As we have delivered many Scottish Enterprise/UKIPO IP audits, we also know how 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 Scottish Enterprise/UKIPO IP audit or help you apply for your IP audit grant, please contact us today.
