IP Audit: Way To A Healthy Organization

This article aims to study intellectual property audit and its importance in the management of intellectual assets of organizations. IP audit is vital for academic and research institutions as it improves transfer of technology and reduces uncertainties in IP matters. At the same time, it is significant for corporates not only to remove uncertainties in IP but also help in IP protection and compliances. With the increasing interaction of companies and universities or public funded research institutes, review and assessment of not only their intellectual assets but also their IP policies have become imperative. Such an audit helps organizations to avoid the pitfalls and maximize value of the intangible assets possessed by these organizations without the fear of any unwarranted legal proceedings.