IP Audit Solicitors

An IP Audit can further add value to your business and its future growth by:

We work with Innovate UK and have assisted clients in obtaining Tier 1 and Tier 2 funding from the IPO.

For UK companies (who meet the criteria set out below), the government, via the Intellectual Property Office, is offering grants for the cost of an IP Audit.

Eligibility for IP Audit Funding

To be eligible, your business must meet the UK government’s definition of a micro-entity or small or medium enterprise, including having fewer than 250 employees, an annual turnover of less than £36 million and a maximum balance sheet total of £18 million.

Once funding is approved, you must appoint a firm of IP professionals (such as Myerson) to conduct the IP Audit report. 

Tier 1 IP Audit

If you are eligible, the cost of the IP Audit is fixed at £3,000, and the IPO will pay up to £2,250, meaning your business would only need to contribute the remaining £750.

Tier 2 IP Access

This usually follows the IP Audit, with the IPO making a further contribution for an IP Professional to progress and implement recommendations set out in the IP Audit Reports or to provide further professional advice relating to commercialising the business's IP assets (this can include drafting licensing terms and agreements or applications for registrations).

IP Access matches the business's contribution up to £2250 (incl VAT).

How to apply for IP Audit funding

You can apply for funding for your business by contacting the IPO’s regional partners via one of the links below:

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

All applications for IP Audit funding are subject to assessment, and funding is not guaranteed.

Myerson Solicitor's IP experts have a wealth of experience in advising businesses on a broad range of IP matters, including:

• Liaising with Innovate UK on applications for IP Audits;
• Conducting IP Audits;
• Working with IP attorneys on applications and strategies;
• Advising on the entire IP life cycle (initial development and registration, commercialisation and exploitation and protection and enforcement); and
• Developing and progressing IP strategies.

Myerson IP Lawyers work collaboratively and have excellent working arrangements with IP Attorneys. Therefore, they are able to coordinate and take a holistic approach to the protection and exploitation of IP assets on an international basis.

These strong working relationships are a key element of the service Myerson offers clients, more generally, as part of its commercial service offering.

Myerson is a member of the Intellectual Property Lawyers Association (IPLA), an association of law firms with an established intellectual property office.

If you have any questions or want further information on the IP Advance scheme, please contact our IP Lawyers, who would be happy to help.