INTELLECTUAL PROPERTY ASSESSMENT
Valuing your most vital assets: Your Ideas
WHY AN IP AUDIT
If you don’t measure it, you won’t manage it

An IP Audit is a systematic review of the IP assets owned, used or acquired by your business.

Its purpose is to uncover the under valued IP assets, to identify any threats to a company’s bottom line, and to enable our business strategists to devise informed strategies that will maintain and improve your business and its market position.

We believe in the changing nature of business fuelled by digital disruption it is more important than ever to build, protect and leverage your most valuable assets: your ideas.

The first steps in an IP audit are as follows:

Identification
Identify the products or services that are Vital to your business
Legal Rights
Identify your IP assets and the legal rights that constitute them in relation to your goods or services
Understanding
Understand what market advantage these rights give you (i.e. cost, performance, timeliness) to leverage Vital growth
Valuation
Value your IP assets: you should value your IP assets just as you would physical assets
Examples and Scenarios
To relate to real-world cases

For example, your customer list or database can be a competitive intangible asset you need to identify and protect. A secret recipe or a unique piece of software, or business technique also falls into this category. Likewise your logo, brand name and business name are important visible assets that can serve to protect, and leverage the intellectual property in your business.

As a starting point you can try to calculate how much time would be required to develop these assets from scratch, or estimate how much a competitor might pay for them.

 

Consider the Type of Protection Available

Once you have identified your IP assets, make sure you have appropriate IP protection. This may include a patent or trade mark, or less formal strategies such as trade secrets or patent.

Once the audit and valuation process is complete, you can look at your options to commercially exploit your IP.

 

Next step: from Audit to Strategy

The audit process will enable you to determine the following:

IP Strategy
The best IP strategy for your business
Risks and Benefits
The likely costs, risks and benefits of that strategy
Maintenance
The best way to maintain your IP assets
Property Rights
Whether you are likely to infringe someone else’s property rights
Take Action Today
and find out what assets are valuable and worth protecting

As qualified legal practitioners we can provide Vital strategy to leverage your best business ideas, for far greater growth.

Put your trust in us and get in touch for an obligation-free discussion around how we are able to assist you with your business Intellectual Property; don’t leave your valuable business assets vulnerable for any longer.

Talk to us Today