Patent
Highlights
This program is designed for businesses like yours to secure exclusive rights for your inventions. By applying, you can protect your intellectual property, ensuring that your innovations remain yours alone. This can give you a competitive edge in the market.
Why Apply?
- Exclusive Rights: Gain legal protection for your inventions.
- Financial Support: Access funding for patent filing, examination, and maintenance.
- Expert Guidance: Benefit from resources and training to navigate the patent process.
What's in it for You?
- Secure Your Innovations: Protect your ideas from being copied.
- Increase Market Value: Patents can enhance your business's worth.
- Easy Qualification: The program is designed to be accessible for businesses like yours.
Applying for this program can help you safeguard your inventions, potentially leading to increased revenue and market presence.
Financing Details
Type of Financing: Grant
Repayment Terms:
- No repayment required.
- No interest rates apply.
Eligible Expenses:
- Research and development costs.
- Patent application and maintenance fees.
- Costs associated with patent examination and fast-tracking.
- Fees for hiring licensed patent agents.
- Expenses related to transferring patent ownership.
Ineligible Expenses:
- General business operating expenses.
- Marketing and advertising costs.
- Employee wages not related to patent activities.
- Travel expenses unrelated to patent processes.
Fees:
- No application fees.
- No administrative fees.
Qualifications
- Must be a business operating in Canada.
- Must have a valid Canadian Intellectual Property Office (CIPO) registration.
- Must be involved in activities related to patents, such as filing, examination, or maintenance.
Must be willing to engage with patent examiners for industry training visits.
Disqualifications:
- Businesses not registered with the Canadian Intellectual Property Office.
- Businesses not involved in patent-related activities.
- Businesses unwilling to participate in industry training visits.
Description
This program offers your business a chance to receive up to $1,000,000. You can use up to $500,000 of this amount to buy equipment or improve your rented space.
Eligible expenses include:
- Commercial kitchen appliances
- Manufacturing machinery
- Computers and IT infrastructure
- Renovating a retail space
For other costs like software or operational expenses, you can get up to $150,000.
The federal government guarantees 85% of the loan, providing a strong safety net for you.
The loan terms are flexible. If you have made significant purchases in the last 365 days that fit the program guidelines, you can include them in this loan.
You have various options to repay the loan. You can choose a variable interest rate, a fixed one, or combine your loan amount and interest into blended payments.
You have up to 15 years to repay the loan, regardless of what you spend it on.
Program Steps
Create an Account on MyCIPO Patents: Visit the MyCIPO Patents website and create an account. This will be your portal for managing your patent application.
Prepare Documentation: Gather the necessary documents for your patent application. You will need:
- Detailed description of your invention
- Claims defining the scope of your invention
- Abstract summarizing your invention
- Drawings or diagrams (if applicable)
- Information on prior art or related patents
- Completed application forms
Draft Your Patent Application: Write a comprehensive patent application. Ensure it includes all required sections and adheres to the guidelines provided by the Canadian Intellectual Property Office (CIPO).
Submit Your Application: Log in to your MyCIPO Patents account and submit your completed application along with the required documents. Make sure to review everything carefully before submission.
Pay Application Fees: Pay the necessary fees for filing your patent application. The fee schedule can be found on the CIPO website.
Request Examination: After submitting your application, request an examination. This step is crucial for the evaluation of your patent application.
Monitor Application Status: Regularly check the status of your application through your MyCIPO Patents account. Respond promptly to any requests for additional information or clarification from the patent office.
Receive Patent Grant: Once your application is approved, you will receive your patent grant. Ensure you understand the maintenance requirements to keep your patent active.