Are you seeking financing for your intellectual property? These options are worth exploring!
Know your assets, establish your vision
Intellectual property (IP) is a valuable business asset that you can use to generate revenue through licensing, or as capital to negotiate partnerships. The first step in getting the most from it is identifying the types of IP you own, then building an IP strategy to support your business' success. When applying to obtain a patent, or to register a trademark, industrial design or copyright work, ask yourself the following questions:
- What IP assets do I have?
- What is their value to me and my business goals?
- What is my budget?
Choose the right financing program for your IP
From administrative fees to hiring an IP professional, there are different costs associated with protecting your IP. The good news is that in addition to securing loans from traditional financial institutions, you can take advantage of the many resources the Government of Canada has to offer:
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The Business Development Bank of Canada offers a spectrum of financing, indirect financing and advisory services for Canadian businesses, with a focus on small and medium-sized enterprises (SMEs):
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Start-up financing for a new business
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Small Business Loan of up to $100,000 within 5 business days
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Xpansion Loan designed to help you realize projects that are key to your growth and success, without putting your cash flow at risk
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The Trade Commissioner Service of Global Affairs Canada associates with other departmental groups to support exportation and international partnerships:
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in collaboration with the National Research Council Industrial Research Assistance Program, CanExport provides direct financial assistance to SMEs registered in Canada that are seeking to develop new export opportunities and markets, especially high-growth emerging markets
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Going Global Innovation provides early-stage financing to researchers from Canadian SMEs, universities, and non-governmental research centres to pursue international R&D partnerships with targeted key players in other countries (the only eligible cost related to IP under this program is the drafting of IP agreements)
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Start thinking about how you can incorporate intellectual property into your business today by consulting these IP business resources and tools!