Ip Audit
IP Audit
Mrs. C. Arthi Gandhimathi Dr. K. Gopalakrishnan
Research Scholar Member, Board of Governors
Anna University Coimbatore National Design and Research Forum
Coimbatore – 641 047 Bangalore – 560 001 e-mail: arthibala2009@gmail.com
Abstract
The single most compelling reason for any company, particularly an SME, to conduct an intellectual property (IP) Audit. But what should be measured and how can we begin the process?
An IP Audit is defined as a systematic review of the IP assets owned, used or acquired by a business. Its purpose is to uncover under-utilized IP assets, to identify any threats to a company’s bottom line, and to enable business planners to devise informed strategies that will maintain and improve the company’s market position.
In many cases SME’s do not have the resources to conduct a full audit of all its IP and will find it difficult to put a value to each of the components making up an IP portfolio. Putting aside these difficulties, and at the risk of reducing the exercise to the “too-hard basket” it is important for every business to document and value what is, in many cases, its most important intangible assets.
According to the literature I have read, an IP audit can be initiated for any number of reasons. The common theme in all of these reasons is that the IP audit is initiated in response to an event that requires the company to REALLY know what is going on with its IP – as though IP didn’t matter all that much before.
Unfortunately, the IP audit will tell companies about mistakes they’ve already made, or opportunities they’ve already missed, but it won’t necessarily prevent them from making mistakes in the first place.
Scope of the Audit
If the purpose of an IP audit program is to identify what IP a company owns, its current status and its commercial potential, the audit will be extensive. It might include: • Questionnaires for present and former employees and contractors to
Mrs. C. Arthi Gandhimathi Dr. K. Gopalakrishnan
Research Scholar Member, Board of Governors
Anna University Coimbatore National Design and Research Forum
Coimbatore – 641 047 Bangalore – 560 001 e-mail: arthibala2009@gmail.com
Abstract
The single most compelling reason for any company, particularly an SME, to conduct an intellectual property (IP) Audit. But what should be measured and how can we begin the process?
An IP Audit is defined as a systematic review of the IP assets owned, used or acquired by a business. Its purpose is to uncover under-utilized IP assets, to identify any threats to a company’s bottom line, and to enable business planners to devise informed strategies that will maintain and improve the company’s market position.
In many cases SME’s do not have the resources to conduct a full audit of all its IP and will find it difficult to put a value to each of the components making up an IP portfolio. Putting aside these difficulties, and at the risk of reducing the exercise to the “too-hard basket” it is important for every business to document and value what is, in many cases, its most important intangible assets.
According to the literature I have read, an IP audit can be initiated for any number of reasons. The common theme in all of these reasons is that the IP audit is initiated in response to an event that requires the company to REALLY know what is going on with its IP – as though IP didn’t matter all that much before.
Unfortunately, the IP audit will tell companies about mistakes they’ve already made, or opportunities they’ve already missed, but it won’t necessarily prevent them from making mistakes in the first place.
Scope of the Audit
If the purpose of an IP audit program is to identify what IP a company owns, its current status and its commercial potential, the audit will be extensive. It might include: • Questionnaires for present and former employees and contractors to