What is an IP audit?

An IP audit is a detailed review of your business assets through the lens of intellectual property. The audit identifies which IP assets exist, who owns them, any issues or weaknesses, and opportunities for the future. The findings are issued in a report with a recommended IP management plan.

Potential IP assets can include:

  • Confidentiality agreements covering propriety information and trade secrets
  • Copyright covering original creations and creative works
  • Design rights covering product designs, shapes, packaging, and more
  • Patents covering new inventions and technology
  • Trade marks covering your brand name, slogan, logo, colours, and more

Many businesses don’t consider their intellectual property until it’s too late, perhaps after finding themselves in a dispute. But given the range and value of IP assets listed above, an IP audit is a critical, proactive step to safeguarding your business.

Get in touch using the contact form opposite to discuss an IP audit for your business.

“Excellent experience dealing with Briffa. They were prompt, thorough, and concise in all the communication, and provided sound, excellent advice in regard to our intellectual property action.

I would highly recommend them to other small and medium businesses.”

Matt Stanley

Who is an IP audit for?

All businesses have IP assets and could benefit greatly from the IP audit process.

And regardless of whether you’re a startup or an established brand, IP audits are useful for businesses at all stages of life. In fact, regular reviews should form part of an ongoing IP strategy, ensuring any new developments are picked up in before they become an issue.

 

Why is an IP audit important?

  1. Identify valuable assets that require protection.
  2. Identify opportunities to exploit your IP through licensing and assignment.
  3. Identify and correct issues with IP ownership. For example, if you work with contractors or third parties.
  4. Identify potential disputes. For example, if there are registered IP rights that compete with yours, such as a competitor owning a similar name or logo
  5. Develop an IP management plan consistent with your wider business strategy.

“Very impressed by Briffa. I needed a quick response, and they provided it.

The advice received was clear, thoughtful, supportive and realistic, enabling me to make an informed decision about how best to proceed. I would highly recommend their services.”

Rebecca Abrams

Government funding

Some businesses are eligible for a part-funded IP audit, as part of the IP Audits Plus programme developed by the UK Intellectual Property Office. Under this programme, the UKIPO will contribute £2,500 towards an audit, with the remainder (£500, for a total cost of £3,000 including VAT) paid by the business. Additional funding is available for implementing recommendations from the audit, up to a value of £5,000.

To be eligible, businesses must:

  • Have fewer than 250 employees
  • Engage with a UK IPO partner, e.g. Innovate UK Edge, Scottish Enterprise, Highlands and Island Enterprises, or the Welsh Government
  • Highlight importance of IP to business growth

If you feel this applies to your business, get in touch with an IP professional at Briffa to discuss the next steps.

Why work with Briffa?

We’re a law firm that specialises solely in IP issues, and we’re recognised as a leading firm in the industry by the Legal 500.

We offer a free consultation to discuss your case before any fixed-fee quotes are given.

We can perform a global audit to understand your IP position in every market you operate in.

We offer an industry-leading service with short turnaround times and business-focused advice.

Key contacts

Speak to our team

We’ll start with a no-obligation chat where we’ll get to know you and understand your current challenges.

Book your free consultation now

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