Did you know that the Government of Canada has various financing assistance programs that could cover costs associated with protecting and acquiring intellectual property (IP) rights?
From administrative fees to hiring an IP professional (i.e. the lawyers at Barbeau Evans LLP), 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:
- 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):
- Start-up financing for a new business
- Small Business Loan of up to $100,000 within 5 business days
- Xpansion Loan designed to help you realize projects that are key to your growth and success, without putting your cash flow at risk
- The Trade Commissioner Service of Global Affairs Canada associates with other departmental groups to support exportation and international partnerships:
- 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
- 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)
Start thinking about how you can incorporate intellectual property into your business today by contacting Paul Barbeau at (604) 688-4900 ext 11, or email me or connect with me on LinkedIn.