Papers were lodged n the High Court in London today to officially confirm that Mr Richard will take legal action against both organisations.
The BBC and Chief Constable of South Yorkshire Police are listed as defendants while Richard is listed as the claimant.
The singer was never arrested or charged for any of the historical sex offence allegations that were made against him.
Two years ago Police performed a televised raid on his home, but in June the case against him was dropped due to insufficient evidence.
At the time Richard said: "They must be thinking I will sue them. Once I would have been reluctant. It is tempting to forget the whole thing, but people like myself are in a very privileged position to possibly change things so it doesn’t happen to anyone else."