Windows of opportunity – Manage your intellectual property (“IP”) the smart way

The European Union Intellectual Property Office (the “EUIPO”) supported by the European Commission (the “EC”) has launched the Ideas Powered for Business SME Fund (the “SME Fund”).  The fund is worth €20m and makes grants available to small and medium-sized enterprises (“SMEs”) in connection with certain IP services.

The SME Fund is intended to enable SMEs develop their IP strategy and protect their IP rights.

What is covered by the SME Fund?

The funding is intended to cover two types of services:-

Service 1 – Pre-diagnostic IP services (referred to as the “IP Scan”) – Essentially this is an IP audit and IP health check for SMEs conducted by IP professionals for which certain fees incurred may be reimbursed under the grant scheme.

Service 2 – This relates to the application fees for trade mark and design applications (the “Application Fees”) – While this is called a service, it will enable certain reimbursement of Application Fees paid to the relevant IP offices under the grant scheme.

What do you get?

For Service 1 – 75% of the fees incurred in connection with an IP Scan are reimbursed to SMEs (up to a maximum of €1,125).

For Service 2 – 50% of the Application Fees incurred are reimbursed to SMEs (up to a maximum of €1,500).

When to make an application for a grant?

There are 5 windows in total, some of which have closed already – the next available windows are as follows:-

Window 4 – 1 July 2021 – 31 July 2021

Window 5 – 1 September 2021 – 30 September 2021

Where to make the application?

The application can be made online here

What’s the catch?

• SMEs who make an application outside of any of the windows, won’t be considered and the application will be rejected. However, you can always apply again in the next window.
• SMEs can only make one application for Service 1 or Service 2 or a combination of both. There is latitude to make additional applications in subsequent windows.
• The maximum aggregate you can be reimbursed is €1,500 (except in the case of an IP Scan alone it is €1,125). However, if you do not use your full allowance on the first application, you may make a subsequent application. However, any subsequent application must be made in a separate window.
• Grants are on a first come, first served basis.
• You need to apply for the grant before you pay your Application Fees.
• Re-imbursement claims should be submitted as soon as possible but no later than end of 2022. Re-imbursement can only be paid into the SMEs bank account.

DON’T HOLD BACK!

• The IP scan service is being offered via The Intellectual Property Office of Ireland (the “IPOI”) for the first time so this is your opportunity to avail of this service.
• Application is made via the IPIO but the IP Scan is carried out by an approved provider.
• Reddy Charlton LLP are an approved provider of the IP Scan by the IPOI.

This is an excellent initiative by the EC and EUIPO and it is a wonderful opportunity for SMEs.

Identifying what IP you have, developing an IP strategy and protecting your IP should be a part of the business strategy of all SMEs.

The benefits that can accrue to the business are endless and as many business these days derive their primary value from their IP, it is essential that all SME’s grasp the importance of these assets.

Niamh Gibney is a Senior Associate Solicitor and Registered Trade Mark Agent in the Commercial Department in Reddy Charlton LLP.

For further information contact Elaine McGrath emcgrath@reddycharlton.ie