Thursday, March 30 2023   \  Published by Veneer Shipley .

IP audits: What? When? and Why?

IP audits: What? When? and Why?

You have decided to perform an IP Audit. Maybe you have received a grant from the UK Intellectual Property Office to assist with the cost. What do you expect to achieve with the Audit? How can you get the best out of the process?

IP Audits are often generated by early stage companies. However, companies at all stages of development can benefit from an IP audit. For example, established companies with extensive IP portfolios should take the time to consider the strengths and weaknesses of their IP portfolio and their IP strategy.

An IP Audit should be a focused piece of work that takes an overall look at the current and future IP position of the business and seeks to come to some conclusions. To this end, IP audits do not generally cover:

- Preparing and filing applications for patents, trade marks, designs or other registered rights.

- Conducting significant searching and analysis, for example patent landscapes or freedom-to-operate (FTO) work. Read more

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