Protecting Your Company's Intellectual Property: A Practical Guide to Trademarks, Copyrights, Patents & Trade Secrets

Intellectual Property Audits

An intellectual property audit or review is conducted to disclose the particular types of intellectual property owned by a company. The results of the audit are evaluated, and the company then determines the appropriate measures it needs to take to obtain the broadest possible protection for its intellectual property assets.

Companies often retain law firms to conduct the audit. Typically, the law firm provides the company with a questionnaire and requires it to assemble the materials requested for review by the firm. Thus, whether the audit is conducted by outside counsel or by the company itself, company involvement is significant.

If outside counsel is engaged to conduct the audit, the company should appoint a ...