Are you considering taking your products and services global?
Australia’s Export Market Development Grant Scheme (EMDG) is a government financial assistance program that assists small and medium enterprises to start or expand their export business.
These grants are designed to encourage Australian business owners to market and promote their goods and services overseas and can be a great springboard for investment into your intellectual property (IP) portfolio. If you are a new, emerging and even established business taking steps to commercialise your IP rights internationally (including by way of a sale or licence), you may be eligible under the scheme to recover costs associated with securing or promoting your IP.
Who is eligible under the scheme?
The EMDG is offered to Australian individuals, companies, partnerships, trusts, body corporates, associations or cooperatives with an income of less than $20 million for the previous financial year.
To recover costs associated with IP protection, your product or service must be of Australian origin and with research and development occurring predominantly in Australia.
How much can businesses be eligible for?
The EMDG is offered in three different ‘tiers’ depending on which stage of exporting the business is in.
Business must spend an equal amount of their own money on eligible expenses to receive the grant money and must submit their plans for export in their application.
What intellectual property expenses are eligible under the scheme?
The expenses you can recover include attorney fees and government agency fees related to the application, registration or extension of intellectual property rights in a foreign country. The EMDG can also assist with expenses for promoting the intellectual property overseas.
What are the benefits of registered IP protection?
Registered IP rights provide exclusive rights and protection in the jurisdiction they are registered. You can rely on registered rights to put a stop to others distributing knock off products or conducting services under your brand without permission. Registration can also ensure that your business does not inadvertently infringe another’s rights in other countries.
Further, IP is an asset that increases the value of the business as you generate income from licensing and sale of the same. Wherever you plan to commercialise your IP, you should take steps to secure registered protection in those countries wherever possible.
When can I apply?
We strongly recommend that businesses take the opportunity to apply for the EMDG grant in parallel with securing intellectual property rights overseas, thus helping minimise the overall cost burden that can be associated with securing these valuable rights.
Applications for the 2023 EMDG scheme opened on 6 July 2022 and close 17 August 2022 at 4pm.
For further information go to the Austrade website or if you are looking for assistance in securing your intellectual property rights overseas, please contact:
Michelle Dowdle
Principal Lawyer
T +61 3 9611 0114 | M +61 408 674 256
E: mdowdle@sladen.com.au
Laura Bentley
Associate
T +61 3 9611 0120
E: lbentley@sladen.com.au
This update was prepared with the assistance of Cameron Webb, Seasonal Clerk.
