IP AUDIT

Intellectual Property can be one of the most valuable assets in a business, but only to the extent that your company understands what IP assets it has so that it can properly identify, protect, enforce and/or commercialise them. IP can take the form of traditional registered IP assets, such as patents or trademarks, but can also encompass less formal categories of IP such as trade secrets, know-how and organisational knowledge, and it is these assets which often underpin your business’ competitive advantage. The importance and value of these various types of IP assets can vary based on the individual company and the market within which it operates, but the critical factor regardless of sector is the identification and protection of key IP assets.

Though it may seem an obvious step, an IP Audit is the critical first step for a variety of assignments as it itemises a variety of IP assets which many companies may take for granted. 

Metis Partners’ IP audit provides companies with a high-level overview of the critical IP assets which exist within a business, highlighting potential risks and providing recommendations and action points the company can take in order to protect, and thereby maximise, IP value. Using our proprietary methodology, Metis Partners identifies critical IP assets which companies often did not realise existed or could be considered critical to the business underpinning its USP’s.

Metis Partners can also assist your company with implementing these recommendations, from an IP strategy designed to streamline your company’s current IP activities to the creation of a trade secrets policy in order to improve trade secret awareness and protection amongst management and key members of staff.

Our IP Audits have been used for a variety of follow-on actions, including:

  • Using the IP assets as security for borrowings & investment
  • Improving profitability by building new revenue streams around IP assets
  • Developing competitive advantages and creating barriers to entry
  • Using the IP assets to improve the valuation of the company prior to fundraising or exit
  • Measuring the ROI achieved on IP assets
  • Valuing and selling of IP assets

UKIPO-Backed IP Audits

The UKIPO, as part of the UK government’s “Growth Accelerator programme,” has recognised the value and benefit in such IP Audits – particularly for SMEs – and as such, it is currently offering qualifying businesses the opportunity to apply for funding of up to £2,500 towards the cost of an Intellectual Property audit. The Audit will be instrumental in helping companies clearly recognise the return on investment on their IP assets by making the link between the IP assets created and the revenues these assets underpin.

In order to ensure that the IP Audits are undertaken by relevant, qualified professionals, the UKIPO has set rigorous standards which IP advisors must meet if they are to be able to carry out a funded audit. Metis Partners have a proven track record helping companies recognise these assets, and have successfully carried out IP Audits in a diverse range of sectors, from life sciences and software through to engineering, chemical and medical devices. We are well into double figures in terms of the number of UKIPO-backed IP audits we have completed for clients!

With our recognised Metisology™ method, we will make sure that all of your IP assets, including your critical know how, trade secrets, patents, trademarks and software are identified and properly managed, adding further competitive advantage and an increase in the overall valuation of your business.

If you would like to know more about our IP Audit Services then please contact Michelle Korman on 0141 353 3011 or michelle@metispartners.com.