IPO IP Audit scheme

The IPO’s IP Audit scheme provides SMEs with professional guidance and advice to ensure they are maximising the value of their intellectual property and factoring this into their business strategy.

The IPO increased the number of audits during last financial year in response to increased demand.

SMEs cannot directly apply to the subsidised scheme (the IPO provides a grant to cover most of the costs of audit) and the IPO prefers not to promote the scheme too widely for risk of raising expectations that may not be met. Instead, companies are referred via organisations that the IPO partners with to deliver the scheme.

The IPO works with Innovate UK Edge, Welsh Government, Highlands & Islands Enterprise and Scottish Enterprise to identify innovative, high-growth potential businesses that are considered suitable to apply.

To qualify, the business has to be on one of these partner organisation’s business support schemes and be able to demonstrate that it has the capacity to implement potential actions arising from the IP audit. The partner organisations identify eligible businesses that they are working with and then support the business to prepare the IP Audit scheme application.

Date Published: 18 July 2022