Intellectual Property Audits
Many businesses we come across do not have a coherent approach to IP. Frequently they:
- do not actually own the IP they think they own
- file for registered IP on a haphazard basis and allow other IP to fall into the public domain
- have registered IP that does not cover the current products and brands of the business and costs money to maintain
- have not considered their IP risks or how to mitigate them
- have not looked at whether they use the most cost-effective methods of protecting their business
How can we help you with IP Audits?
We can perform IP audits across a range of industries and sectors, where we spend time with a company to identify protectable ideas and innovations that will add value to your business. We start by understanding your business strategy and goals. We then examine your IP, identify any under-utilized IP assets, identify any potential threats to the business’ bottom line and work with you to develop tailored strategies that could help improve the business’ position in the market by recognising which IP assets are most valuable.
Our audit will include preparation work, a meeting and a report with action points covering:
- Copyright – identification of existing copyright works (for example, databases, staff handbooks, websites), advice on ownership of copyright, and database rights.
- Patents – identification of existing patents, review of potentially patentable innovations, basic investigation regarding patent infringement.
- Trade Marks – identification of existing trade marks, clearance advice before use, identification of possible infringement of third party rights.
- Designs – identification of existing design rights, advice on registered design protection, identification of possible infringement of third party rights.
- IP Management – advice on confidentiality (non-disclosure) agreements, trade secrets, know-how, employee agreements, and best-practice IP management to help prevent loss of confidential business or technical information.
On completion of the audit, you will have a thorough understanding of your business’ IP assets, and a clear IP strategy that works for your business – essential for development and commercial success.
If an IP audit is something that you feel could benefit your business, and/or you would like more information or to see whether your business qualifies for financial support towards an IP audit, contact us.
Arrange a free meeting
For more information, or for an informal chat about your legal requirements, contact us now for a confidential no obligation discussion.
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