Wednesday, June 2 2021   \  Published by Landivar & Landivar.

Intellectual Property Audits

Author: Dr. Martha Landívar Gantier

Before going into the subject of Intellectual Property Audits, I consider making a brief overview of what Intellectual Property is.

Intellectual Property is everything that has to do with the human mind. In it are everything that man has created throughout the history of humanity. Without the protection of these human works, more specifically of their intellect, the scientific and technological transformations that have been improving the quality of life of the human being would not have occurred.

Taking into account that it serves as an incentive for man to continue developing his mind and manifesting that development in all the inventions and great works that humanity has come to know. This legal discipline is divided for study in Copyright and Industrial Property.

Entering the business world, it is necessary to point out that there are now more than ever, intangible assets , among which are unavoidably assets protected by Intellectual Property such as  copyrights, trademarks, patents, industrial designs, utility models, indications geographical areas, designations of origin, geographical indications, commercial slogans , which together constitute, if well protected and managed, the most important business heritage, with which businessmen and entrepreneurs can obtain financing to grow their businesses, as well as face claims or initiate processes to defend your rights over that your assets.

Entrepreneurs must be aware that, by properly managing these intangible assets, they will become agents of success within society. But in order to manage them, they must first audit them, to have the firm conviction of the state and the economic value that they have achieved in their exploitation and positioning in the consumer market.

An Intellectual Property Audit is of visible and perceptible utility, taking into account that, thanks to its process, the strengths and weaknesses of the entire portfolio of intangible assets that the company has are identified, indicating risks, and creating appropriate commercial strategies and business, as well as the positioning of the company both in the physical world and in the digital world.

Currently we see that marketing and advertising is taking place digitally through social networks, taking into account that the exchange of goods is taking place precisely, in the virtual world, due to the serious pandemic that we are experiencing globally. facing up. Thus, in the current reality, the Intellectual Property Audit consisting of a review process of all the documentation concerning the intangible heritage of a company or business, with the main purpose of identifying the undervalued elements, to minimize expenses, thus maximizing those that can increase the value of that heritage, is more necessary than ever. This taking into account that a large part of the trade and exchange of goods and services would be taking place in the digital field, with the possibility of taking place there as well,violations and infringement of the Intellectual Property Rights of any business.

In this identification process, it will be taken into account which elements have been appropriately transferred and also the need to invest in others that can make the company's image grow and better position. Continue Reading

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