Such Audits Are A Must Given The Significance Of Intellectual Property Assets In Business Transactions
Intellectual property rights are increasingly the most valuable assets in business transactions, including capital raising, secured finance and mergers and acquisitions. As the value of intellectual property rights in such transactions continues to grow, effective audits of intellectual property rights is becoming increasingly important.
Unfortunately, many businesses fail to conduct intellectual property audits or conduct ineffective or inadequate audits. This article discusses how to plan an effective and thorough intellectual property audit.
Outside auditors' access to the audited business is often controlled by in-house personnel. Because the information made available to an outside auditor is generally limited and has been filtered through an intermediary, it is important that the accuracy of the information that is provided be verified to the greatest extent practical.
