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.