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IP Audit

An audit is a systematic review of the Intellectual Property rights of a business. Its purpose, among other things is to:

  1. Reveal IP rights that are under-utilized;
  2. Identify rights that are economically beneficial;
  3. Identify threats from competitors.
  4. Enable strategists to steer the company's overall business plan towards improving its market position.
Most Sole inventors and Small and medium sized enterprises do not have the capital / economic resources to conduct a full IP audit and may find it challenging to put a value to their IP. However, it is crucial for every business to document and value its IP as this could help a company realise quantifiable value to the net worth of the business?

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