This will assist you in protecting, exploiting and commercialising the IP, and ensuring that you do not infringe upon the rights of a third party.
What is involved?
Stage 1
The first stage of the IP Audit process is to meet with you and any other key personnel to discuss the scope of your business structures/activities so that we can obtain a sound understanding of the range of IP, which may be implicated.
Stage 2
The second stage of the IP Audit process is a preliminary audit, which is based on the information you provide to us pursuant to the meeting discussed above. This may involve consultations with key personnel of your business, which will assist us in identifying and isolating all IP assets. During this stage of the process, we investigate key areas of risk from an IP governance perspective.
Stage 3
The third stage requires us to determine the origin and legal ownership of any IP assets, which have been identified via the processes set out above. This involves a substantial audit of each of the identified IP assets.
At this stage, the following issues concerning ownership and protection are addressed:
During this stage, we may also seek consultations with key personnel across various departments of your business in relation to business practices and outputs, and reviewing a range of documents including legal agreements and works and know-how created by employees, contractors and partners in the course of working with your business.
Stage 4
The fourth stage of the IP Audit process involves the analysis and reporting of the first three stages, including recommendations concerning the effective management of the IP and collation of a register of the IP assets associated with the business.
Outcome of an IP Audit
Upon completion of the IP Audit, you will be provided with:
The IP Audit will also identify the importance of the IP to the current and future profitability of the business, through proper management and exploitation of commercialisation opportunities and identifies improvements in the treatment and handling of the IP within your business.
Further assistance
At the conclusion of the IP Audit, we can assist you with implementing our recommendations made in the final stage of the IP Audit, for instance by attending to registration of the relevant IP on your behalf or implementing the necessary arrangements and/or other methods of protection.
What is an IP Audit?
