Why instruct an IP Audit?
For any IP-rich companies, obtaining the appropriate IP protection and establishing good IP management practices are likely to be at the forefront of the corporate agenda. Prior to undertaking any IP improvement activities, an IP Audit would enable you to understand the types of IP assets that a company holds, their commercial strengths and weaknesses, as well as the measures that can mitigate the identified risks.
Who needs an IP Audit?
- Start-up/pre-revenue companies seeking to understand the priorities of various IP protection and improvement activities prior to fundraising rounds
- SMEs looking to catalogue IP portfolios and understand how to improve the value of IP assets
- Larger companies aiming to improve IP protection and IP management practice in advance of joint ventures and partnerships
What does an IP Audit do?
An IP Audit provides a company with an overview of its critical IP assets, highlighting potential commercial risks and providing recommendations and action points the company can take in order to protect, and maximize, IP value. We identify critical IP assets which companies may not realize exist and which are critical to the business underpinning its unique selling points, including both registered IP assets and “unregistered” assets such as organizational knowledge and trade secrets.
We assist companies with the implementation of these recommendations, from an IP strategy designed to streamline a company’s current IP activities, to the creation of a trade secrets policy to improve trade secret awareness and protection amongst employees.
How an IP audit can help?
- Uses IP assets as security for borrowings and investment;
- Improves profitability by creating new revenue streams around IP assets;
- Develops robust competitive advantages and creating stronger barriers to entry;
- Uses IP assets to improve business valuation of a company prior to fundraising or exit;
- Measures the ROI achieved on IP assets; and
- Preparation for an IP valuation and prior to the sale of IP assets.