⌟Intellectual Property is not only an Expense but also an Investment.
Undertaking an IP audit is essential to every business and is carried out in every phase of a company’s life. As a startup, it is about identifying the potential and value of intellectual property assets; In the growth phase, it will most often be a question of assessing the state of readiness for investment. In the mature phase, companies are working towards a new strategy (merger/acquisition, joint venture, etc.). Finally, in the decline phase, it will be selling intellectual property assets.
The main purpose of an IP audit is to enhance the value of all of the intellectual capital available within a company,
An audit is used to identify the risks and opportunities associated with IP assets. By using an audit you can:
- Evaluate the financial value of your intellectual property assets;
- Preserve your intellectual property assets;
- Improve your intellectual property strategy;
- Correct the shortcomings related to the management of your intellectual property rights assets;
- Identify the risks that your products or services infringe on the intellectual property of a third party;
- Review the company’s intellectual property agreements, policies and procedures, as well as the intellectual property of its competitors.
To advise is our job and making an IP audit request can be general in scope or focused on a particular IP event or type. Usually, a complete audit requires a review of all existing intellectual property agreements, such as licensing agreements, assignments, employment contracts and contracts with independent contractors, joint venture agreements, technology transfer agreements and transaction agreements. For companies with deep knowledge of intellectual property, we conduct a more focused analysis of intellectual property issues including:
- Assess the intellectual property rights and risks associated with expansion into new markets or channels of commerce;
- Assess the intellectual property rights and risks associated with the acquisition or launch of a new product or service;
- Identify the risks associated with the adoption of a new brand or new product claims and warranties;
- Assess the impact and potential value of obtaining or selling intellectual property, or licensing intellectual property;
Q : Why is necessary to manage the consequences of the expiry of intellectual property rights?
A: Choosing not to renew or forget to renew a trademark can have a negative impact on the company. Rights are no longer protected and it is useful to make an audit and measure the value of the asset to make the right choice.
Q : Why should I spend money on a IP advisor for an audit?
A: Most commonly, individuals seek the help of a IP advisor for an audit. But they can do much more than that. You can get help with demonstrate the value of the business to obtain or provide financing or investment or demonstrate the value of the business when preparing a merger, joint venture or sale, etc.
Q : Does an audit can avoid complex and costly conflicts?
A: An audit can also reveal defects in the title chains and define the steps to correct them, but also to identify obstacles and avoid complex and costly conflicts. In the majority of cases, small businesses give up litigation even when they have solid elements on their side.
Q : I am already a licensee. How can I afford a IP advisor?
A: The help of a IP advisor may be less expensive than you might think. Depending on the help you are looking for, you could be looking at a fee only situation or commission based pricing. Determine if its licensees are in compliance with the terms of a license is a example;