Philadelphia Pennsylvania Checklist for Intellectual Property Audit

Name: Philadelphia Pennsylvania Checklist for Intellectual Property Audit
Brand: US Legal Forms
Rating: 4.66 (467 reviews)

Category:

Technology - Licenses

State:

Multi-State

County:

Philadelphia

Control #:

US-13006BG

Format:

Instant download

Description

All companies have intellectual property challenges and opportunities. Many businesses, however, are not aware of the intellectual property assets they possess, much less the means to protect them and maximize their value. This form is a generic intellect

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FAQ

The Benefits of doing an Intellectual Property Audit Increase revenue and gain a competitive advantage over competitors. Manage IP an organisation can determine how best to manage its IP. Protect your IP through knowing your IP you can decide whether to protect or share it.

Internal audit conducts assurance audits through a five-phase process which includes selection, planning, conducting fieldwork, reporting results, and following up on corrective action plans.

Conducting an IP Audit Each audit should start with identifying all the intellectual assets of the organization, followed by disputes relating to IP, moving on to identification of problems with enforcement and finally identification of any unprotected intellectual asset.

Generally, there are three types of IP audits: General purpose IP audit, Event driven IP audit and Limited purpose focused IP audit.

The first step in preparing an IP audit is to make sure you are clear on its purpose. This means determining the type and scope of the audit, as well as the time and money available for it. These early-stage decisions will have a significant impact on the conduct of the audit and its outcome.

An intellectual property (IP) audit is a tool for identifying your potential IP assets. Ideally an audit should be carried out by professional IP auditors, but often a preliminary audit can be done in-house, within your company. Through an IP audit you can make an inventory of your potential IP assets.

Intellectual property or IP refers to anything that has been created, like designs, inventions, brand names, and literary works. IP is protected by law, for example through copyright, patents, and trade marks, so the author has sole authorisation over who can use and distribute their work.

Research. The purpose is to gather as much relevant information as possible on the way your IP assets relate to internal and external relations; your business strategy; other business assets; your current IP management situation; any existing IP disputes; and ties to the financing of your company.

Definition of an IP Audit (2) IP audit involves undertaking a comprehensive review of a company's IP assets, related agreements, relevant policies and compliance procedures. (3) An IP audit helps a business to make an inventory of its IP assets or update it and analyze: a. How the IP assets are used or unused.

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Philadelphia Pennsylvania Checklist for Intellectual Property Audit

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