The independent Banking on IP report was commissioned by the IP Office and will be published soon. The executive summary published this week recommends steps including:
creating a toolkit to help SMEs, lenders and other financiers identify, understand and make more effective use of their IP;
creating a toolkit to help SMEs, lenders and other financiers identify, understand and make more effective use of their IP;
making it easier for businesses to show what IP they have when looking for funding;
developing templates and providing advice which help banks and others understand the cash flow and business value of IP; and
supporting the development of more accessible and effective IP marketplaces.
It says weaknesses in the existing system include:
IP rights are often undervalued as businesses fail to realise the potential of their innovative ideas;
IP assets are often confused and not identified properly by businesses and banks; and
there are too few effective places where businesses can identify, licence and trade in copyright, designs, trademarks and patents.
