Intellectual Property Audits

Intellectual Property Audits

The Intellectual Property Audit is the first step toward an integrated intellectual property management system for your business. An IP Audit is a hunt for under-utilized assets, waste, and potential legal exposures. An IP Audit has four basic purposes:

  • Protection of company-created assets
  • Leveraging income generating intellectual property
  • Compliance with existing licenses to and from the company
  • Avoiding infringement of the intellectual property of others
  • Triggering Events

    Companies should conduct a partial or complete IP Audit as a regularly scheduled process, or when:

  • Conducting strategic planning initiatives
  • Facing a significant stock purchase or debt financing
  • Merger, acquisition, sale, or closure
  • There have been significant changes in applicable laws
  • Beginning a branding campaign
  • Types of Assets

    Our IP Audits focus on the following company-created intellectual assets:
    Copyrighted Materials Documents, Articles, Marketing Materials, etc.

  • Work Made For Hire
  • Freelance/Contractor Agreements
  • Trademarks and other Branding Elements Product Names
  • Logos
  • Internet Domain Names
  • Slogans
  • Songs
  • Colors, Scents, Shapes
  • Characters
  • Packaging
  • Other indicators of source.
  • Trade Secrets

  • What would you NOT want your competitors to know?
  • Why?
  • What are you doing to protect those secrets?
  • What should you be doing to protect those secrets?
  • Contracts

  • Employee
  • Subcontractors
  • Licenses
  • Patents (if applicable)

    Master Works (if applicable)

    Internet Issues

  • Domain Names
  • Email Policies
  • Employee Blogs
  • Hyperlinks
  • Metatags
  • Materials Used WITHOUT Express License

  • Competitor Trademarks
  • Incidental Photocopying
  • Email
  • Employee Data
  • Client Data
  • Assets Used WITH Express License Software

  • Equipment
  • Trademarks
  • Copyrights
  • Patents
  • What We’ll Look For

    The IP Audit is designed to discover and document:

  • Income Generating Assets
  • Ownership of Assets
  • Records of Transfers
  • Perfection of Security Interests
  • Compliance with Statutory Formalities
  • Potential Infringement Issues
  • Defenses to any Potential Infringement Issues
  • Our Process

    We approach the project as follows:

  • Define the Scope of the Audit. Will it be comprehensive, or just a look at your trademarks and trade secrets?
  • Develop the Schedule
  • Gather Information General Questionnaires
  • IP Inventories (as defined in scope of work) Registered Copyrights
  • Registered Trademarks
  • Registered Patents
  • Employee Manual
  • General Business/Strategic/Marketing/Sales Plan
  • Advertising Materials
  • Graphic Standards Manual
  • Software License Inventory
  • Trade Secret Information
  • Employee Invention Journals (when appropriate)
  • Individual Interviews

  • Management
  • Sales/Marketing
  • Human Resources
  • Line Employees
  • Direct Observation

    Written Analysis

    Response Planning Policy Development

    Employee Education Programs

    Registration of Assets

    License Development, Planning, Negotiation.

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