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:
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 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. They provided sound, excellent advice concerning our intellectual property action.
I would highly recommend them to other small and medium size businesses.”
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.
“Very impressed by Briffa. I needed a quick response, and they provided it.
The advice received was clear, thoughtful, supportive and realistic. It enabled me to make an informed decision about how best to proceed. I would highly recommend their services.”
Some businesses are eligible for a part-funded IP audit. This comes as part of the IP Audits Plus programme developed by the UK Intellectual Property Office. Under the 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:
If you feel this applies to your business, get in touch with an IP professional at Briffa to discuss the next steps.
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.
The scope of our IP audits will vary depending on your business needs. However, they typically include an assessment of your existing rights, followed by a review of all processes, documents, and procedures related to IP creation and protection.
Next, we’ll identify any potential risks or areas of potential weakness, such as weak IP rights or vulnerabilities to infringement. Finally, we identify any gaps in the existing IP protection measures and recommend appropriate solutions.
In general, all businesses can benefit from standard audits on a regular basis – often annually.
More comprehensive or specialised audits may be required on an ad hoc basis in particular circumstances. For example, if an audit has never been performed before, if the business is growing quickly or changing direction, if the business is looking for investment, selling or licensing assets, or considering a merger or acquisition.
We’ll start with a no-obligation chat where we’ll get to know you and understand your current challenges. Then, we’ll decide on the best approach to your audit and discuss IP strategies.
Book your free consultation now