IP Audit - Identifying your Intellectual Property Assets
The first step to IP Intelligence is an IP Audit to catalogue your Intellectual
Property assets and chronicle your patent filing activities. An effective IP
Audit can help ensure you defend your critical IP assets to protect your current
markets. It can also identify fresh opportunities for new products and joint
ventures.
What is an IP Audit?
An IP Audit is a systematic review of the Intellectual Property (IP) owned, used
or acquired by your corporation. Its purpose is to establish the following:
- What IP is used in the operation of the company?
- Who owns the rights to the IP used?
- If the company owns the rights, are the rights registered?
- Is your IP being fully exploited?
- Is your IP under threat?
- Do you have an effective IP management program in place?
IP Audit - Minimising risk
In today's competitive, litigious environment, the primary goal of an IP Audit
can be seen as defensive. You need to understand the Intellectual Property upon
which your business relies in order to effectively protect it. Unfortunately,
the threats to your IP aren't limited to legitimate competitors. You must also
beware of patent "patent trolls" - individuals and entities who have no
intention of making a product but who make exorbitant sums by taking or
threatening legal action against those who do. (e.g. NTP v RIM and the
Blackberry patent infringement case).
IP Audit - Identifying opportunity
An IP Audit is not solely an exercise in risk mitigation. Progressive companies
use their IP Audit to identify underutilised Intellectual Property assets that
can be used to launch into new markets, create new products and form fresh
alliances.
IP Audit - the first step to IP Intelligence
Filament can deliver sophisticated and insightful IP intelligence to help you
survive and prosper in a cut-throat Intellectual Property landscape. But the
first step is an IP Audit to catalogue and comprehend the potential and the
limits of your current Intellectual Property portfolio. To learn more about IP
Audits and IP Intelligence, contact Filament today.