IP Audit Solicitors

Intellectual property (IP) has the potential to drive the growth and value for your business by delivering competitive advantages and creating new revenue streams.

Understanding what intellectual property your business has and identifying its strategic importance to your business.

Conducting an IP Audit is the first step towards realising the value of such assets.

What is an IP Audit? 

An IP audit is a systematic review of the IP assets (including registered and unregistered, existing and future) owned or used by your business.

The Intellectual Property Audit will help you to:

• identify existing and potential IP assets;
• identify issues around ownership of the IP assets which are strategic to your business;
• identify coverage and gaps in protecting the relevant IP assets;
• identifying IP assets of 3rd parties which your business uses, which may pose a risk for your business;
• identify under-utilised assets that can help your business generate revenue; and
• providing IP-specific recommendations to help you best manage, protect and exploit its IP assets.

Our IP Audit Reports are flexible and tailored around the needs and goals of your business – some businesses may benefit from quite a broad review of all their IP assets, and others may benefit more from an audit delving into very specific IP-related issues.

An IP Audit can be carried out at any time.

However, key times to think about conducting an intellectual property audit are:

Myerson Solicitor's IP experts have a wealth of experience in advising businesses on a broad range of IP matters, including:

• Liaising with Innovate UK on applications for IP Audits;
• Conducting IP Audits;
• Working with IP attorneys on applications and strategies;
• Advising on the entire IP life cycle (initial development and registration, commercialisation and exploitation and protection and enforcement); and
• Developing and progressing IP strategies.

Myerson IP Lawyers work collaboratively and have excellent working arrangements with IP Attorneys. Therefore, they are able to coordinate and take a holistic approach to the protection and exploitation of IP assets on an international basis.

These strong working relationships are a key element of the service Myerson offers clients, more generally, as part of its commercial service offering.

Myerson is a member of the Intellectual Property Lawyers Association (IPLA), an association of law firms with an established intellectual property office.

If you have any questions or want further information on the IP Advance scheme, please contact our IP Lawyers, who would be happy to help.