IP Wales aims to provide business support to SMEs to enable them to develop their business through the use of patents, trademarks, industrial designs, copyright, database rights, know-how and licensing agreements. It also provides companies with the knowledge and financial means to protect and commercially exploit these IP rights.

The scheme is intended to help SMEs in Wales make their intellectual property more “commercially viable”. Director of IP Wales Andrew Beale says the portal can help SMEs “maximise their hidden assets” and their market share.

Financial assistance is available in the form of reimbursement grants, which cover 50% or more of costs relating to IP. The amount on offer ranges from £250-plus on £500 expenditure to £3,000-plus on £6,000 expenditure.

More practical help is also offered with IP Wales organising free seminars and talks to improve owner/managers knowledge of IP issues. In addition, it offers an IP audit, examining an individual firmÂ’s intellectual property status and proffering advice on how to maximise its potential.