Intellectual Property (IP) is an essential part of most
businesses. Whether a business owns IP or is subject to an
IP-related agreement (such as being the recipient of software or
technology services from a provider), it is a good idea to
regularly conduct an IP audit.
In brief, an IP audit involves determining the IP assets the
business owns, uses or has an interest in, and analyzing the
portfolio to determine how to maximize the benefits and reduce the
risks, losses and inefficiencies associated with the IP.
IP audits are conducted with a view to:
1. Identifying the IP assets the business owns, uses or
has an interest in. Examples include trademarks, business
names, copyrights, patents, trademarks, trade secrets, industrial
designs, technology, domain names and confidential information.
Confidential information includes, but is not limited to, data,
results of research and development, and methodologies.
