Many organisations do not know what intellectual property or IP assets they own. An intellectual property audit (or IP audit) can fix that. IP assets include both legal IP (typical IP) and competitive IP (such as knowledge and know-how). The tangible assets (like buildings, vehicles, or stock) that an organisation owns are usually known and therefore well managed. But the intangible IP assets are often neglected and often an organisation does not know what it owns. In today’s knowledge economy where many organisations have far more intangible assets than tangible assets and the intangible assets are often much more valuable then the tangible assets, this is a big problem.
If you don’t know it exists you cannot exploit it to create value for shareholders. You also cannot protect it.
There are many reasons why an organisation might not know about all of their intangible assets:
- It could be that the organisation has acquired a new business recently – the due diligence that should have taken place before acquiring it may not have been conducted adequately.
- The organisation may have grown fast and there simply wasn’t time to document and protect the IP generated.
- Sometimes the intangible assets exist only within the head of a key individual and the knowledge or know-how has not yet been documented.
So, what should an organisation be doing? Conducting an IP audit, assessment or review (or intangible asset audit) is the best method to find out what intangible assets are owned, document them, and work out how to protect them.
- Find out how we usually conduct an IP audit.
- Find out what the purpose and benefits of an IP audit are.
- What are the critical success factors in conducting an IP audit.
Interested in an IP Audit?
If you are interested please complete the form on the left or email us now. We will contact you to find out more about your requirements.