// PREDICTIVE INTELLIGENCE //
Tell us more about the EUIPO ’ s new fund and what this means – at face value – for SMEs ?
The new fund offers vouchers to EU-based SMEs , enabling them to be partially reimbursed for certain IP services . It covers some of the costs of IP scan services , trademark and design registration and fees charged by national patent offices and the World Intellectual Property Organisation . It ’ s a much-needed source of support and will help to close the gap for those businesses that wish to invest in IP but are finding the cost prohibitive .
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IT ’ S IMPORTANT THAT WE – IN IP SERVICES – HELP
TO EDUCATE BUSINESS
LEADERS ABOUT
THE VARIED POTENTIAL OF IP AND HOW IT CAN
BE USED MOST EFFECTIVELY
TO MEET THEIR BUSINESS GOALS . understandably feel they don ’ t have this money to spare .
Even when they can afford it , there are challenges stemming from the intangible nature of intellectual property ( IP ). With more restricted finances , SME leaders tend to be value-sensitive : every investment they make must translate directly into value , and if they can ’ t foresee the value , they won ’ t make the investment . Identifying the value of IP is not so clear-cut and therefore , particularly in the earlier stages of growth , we often see business leaders repeatedly allocating budgets to other priorities instead . It ’ s a cycle that can be hard to break .
A related challenge is that most SMEs don ’ t know how to use IP strategically to their benefit . Most people have a basic understanding of patents and trademarks and can see how prosecuting infringers could have financial advantages . But the potential of IP to deliver value goes far beyond patent and trademark enforcement . It can be used as currency in negotiations , to communicate company value to investors or potential buyers and to bolster a business ’ reputation . It ’ s important that we – in IP services – help to educate business leaders about the varied potential of IP and how it can be used most effectively to meet their business goals .
More broadly , the fund also serves as a bold statement about IP services . Its introduction shows that the European Commission recognises that investment in IP is a key tool for supporting SME growth . By providing funding in this space , it is putting IP services firmly on the agenda for SMEs and this will hopefully encourage more businesses to consider the value that IP can bring them .
What are the limitations of the new fund ?
While it represents a positive step forward , this fund will only scratch the surface of the financial support that SMEs need to invest effectively in IP . It also makes assumptions about the nature of businesses ’ IP needs . In reality , SMEs have very different needs and the ideal solution would be for businesses to be able to apply for funding without any caveats on how that funding is used if it is for IP services . Under such a model , one business could use the funding to apply for a patent , while another business ( which may not have an immediate innovation protection need ) could instead invest in analysis or support with their long-term IP strategy .
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