The Government has created an “IP Finance Toolkit” to help British businesses understand and best present their intellectual property to potential lenders.
It has been developed by the Intellectual Property office and is designed primarily so that businesses can understand their IP assets and achieve growth.
As a consequence of the toolkit companies can quantify the worth of their IP and present it to banks when seeking finance.
Lenders and businesses will be able to “speak the same language” according to the IPO which believes its kit will help businesses to develop IP management and commercialisation strategies.
Meanwhile it will raise awareness of the “wide variety” of finance options available for IP-rich businesses.
Minister for Intellectual Property, Baroness Neville-Rolfe DBE says: “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 their IP to secure appropriate finance and grow.
“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, inventions and ideas. The IP Finance toolkit is an important step towards businesses making the most of their IP.”
To access the IP Finance Toolkit click here.