IP Audit
{definition}: “A comprehensive review of existing IP assets, both registered and unregistered.”
The IP audit service
The purpose of an IP audit is to provide advice and guidance on identifying and maximizing the value of IP assets. It helps businesses understand what IP they currently have, what potential they have for protecting new IP, and how to manage these assets effectively. The audit also addresses potential issues involving competitor’s IP and provides a guide towards monitoring third-party IP. Essentially, an IP audit can serve as a starting point for developing and implementing an IP strategy.
Why and to whom is it useful?
An IP audit is useful to startups, businesses and organizations that already own, manage or commercialize IP, but want to undertake the necessary steps to further improve their IP assets. For corporations it reduces risk by ensuring proper protection, identifying gaps, recognizing hidden or underutilized IP. For startups and scaleups it helps to secure investments and funding by proving that they manage their IP portfolio.
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