New intellectual property toolkit aims to help secure small business finance
12 Mar 2015
The UK Intellectual Property Office (IPO) has launched a new ‘IP Finance’ toolkit, which aims to help small businesses to use their intellectual property (IP) assets to secure finance.
The toolkit will advise businesses on understanding their IP and effectively representing its value when approaching potential lenders.
Specifically, the toolkit will assist businesses with documenting their IP assets ahead of applications for finance, developing more effective IP management and commercialisation strategies, and raising awareness of the variety of finance options that are available for IP-rich businesses.
Commenting on the launch, Minister for Intellectual Property, Baroness Neville-Rolfe said, ‘Too often businesses and lenders do not fully identify and value the IP 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, innovations and ideas. The IP Finance toolkit is an important step towards making the most of their IP’.