The Government has launched a new toolkit which aims to help SMEs understand and present the value of the Intellectual Property (IP) to potential lenders.
Developed by the UK Intellectual Property Office (IPO), it will support small businesses to use their intellectual property assets to secure the finance they need for company growth.
The toolkit has been developed to
- help lenders and businesses talk the same language when understanding the value ofIP
- encourage and guide businesses to document theirIPassets ahead of any application for finance
- help businesses to develop more effectiveIPmanagement and commercialisation strategies
- raise awareness of the wide variety of finance options available forIP-rich businesses
Minister for Intellectual Property, Baroness Neville-RolfeDBEsaid:
“The UK now invests more in ideas and brands than factories or machinery. Small businesses are the economic bedrock of the UK and it is vital that we help them exploit theirIPto secure appropriate finance and grow.”
“Too often businesses and lenders do not fully identify and value theIP they have. It’s essential that we continue to create the right environment for them to flourish, so we can benefit from their creative designs, inventions and ideas. TheIPFinance toolkitis an important step towards businesses making the most of theirIP.”
“TheIPFinance toolkitwill help businesses to present the security and financial worth of theirIPwhen seeking finance and help banks recognise the value ofIPin a business. It will assist businesses which are rich in intangibles, but lack traditional assets, to make a stronger case when they need to access the finance they need to grow.”
