Finkel law group

How to Conduct Intellectual Property Audits to Protect and Maximize the Value of Your Company’s IP

An IP audit is a systematic review of a company’s IP assets and an analysis of its strengths and weaknesses. The goal of an IP audit is to first determine what IP a company owns and second develop a strategy to effectively use and manage those assets to maximize their value to your company. More specifically, an IP audit allows your company to:

  • Identify under-used processes and how they can contribute more to your company’s bottom line
  • Review and update standard operating procedures, effectively train your employees to protect your company’s IP
  • Review licenses and contracts with third parties, and
  • Assess the risk that your company may be infringing upon other companies’ IP rights.

Source: Finkel Law Group, P.C.

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