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Section: Establishing The Goals of Your Audit INTELLECTUAL PROPERTY AUDIT CHECKLIST Alan R. Singleton Singleton Law Firm, P.C. Establishing The Goals of Your Audit .

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IP audits are conducted by a team consisting of company management, business people, and attorneys, both in-house and outside counsel.

An IP Audit is a systematic review of the intellectual properties owned, used or acquired by a business so as to assess and manage risk, remedy problems and implement best practices in IP asset management.

For example, if company A wishes to enter into transactions with company B to license its IP for a certain period, then the IP audit will have to include a review of the IP assets owned by company A, the policies practiced by it,, and the valuation of the asset.

What are the 5 steps to managing an Audit Programme? Establish the audit programme objectives. Prepare the audit plan. Perform the audit. Report the audit results. Follow up on post-audit activities.

During an audit you can: Identify existing and potential IP assets. Identify coverage and gaps in protecting your IP assets. Make sure you actually own the IP assets that are strategic to your business. Uncover unused assets that cost your business money. Identify under-utilized assets that can help you generate revenue.

IP Assessment Process Once the legal analysis is complete, the IP assets are evaluated for their marketability and commercial potential, which includes assessing their relevance to the company's products or services, the competitive landscape, and potential licensing or partnering opportunities.

How to conduct an IP Audit Get buy-in from the relevant individuals. ... Create an IP Register for the specific review. Request and gather existing policies, agreements, registers (such as an IP register), information, and documents (such as an IP Strategy Document) that are relevant to an IP audit.

An IP Audit is a systematic review of the intellectual properties owned, used or acquired by a business so as to assess and manage risk, remedy problems and implement best practices in IP asset management.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232