What is an IP audit?
An audit of intellectual property involves the full-scale inspection of all intellectual assets of the enterprise, their systematization, identifying gaps in their protection and possible risks, as well as providing recommendations for their elimination and further management of objects.
When is an IP audit required?
The necessity for an audit can arise for many reasons. These may be internal needs, for example, in the case of a change of management and the need to make a holistic picture of the state of intellectual property. This may also be the need for IP due diligence when purchasing or selling the business as a whole or certain intellectual property right thereof.
What is checked during the audit?
- All objects of intellectual property are revealed;
- The relevance and sufficiency of security documents for objects are checked, and unregistered objects are detected;
- The company’s internal documents on registration of intellectual property rights (agreements with employees, acts, orders, etc.) are analyzed;
- External agreements with counterparties on managing intellectual property rights are analyzed;
- Monitoring is performed of infringement of intellectual property rights, the existence of court proceedings and claims from third parties and their prospects;
- Analysis of the efficiency of tax models for working with intellectual rights is carried out.
This list of actions during the IP audit is indicative and may differ significantly depending on the purpose of the audit and the client’s sphere of activity.
What do you get as a result?
In accordance with the purpose of the audit, the agency’s specialists compile a full report on the results of the actions taken. Such a report contains detailed recommendations for solving the identified problems, steps and actions that need to be taken to achieve the goals. You can count on full further legal support of implementing these recommendations by our agency on favorable terms of cooperation.