Renewing IP rights is only half the battle won in the competitive market. An intellectual property audit is a systematic review of a company’s IP assets and related risks and opportunities. IP audits can help assess, preserve, and enhance IP, correct defects in IP rights, put unused IP to work, identify risks that a company’s products or services infringe another’s IP, and implement best practices for IP asset management. A thorough IP audit involves not only a review of a company’s IP assets, but also the company’s IP-related agreements, policies and procedures, and competitors’ IP.
We offer services which help our client to maintain their IP inventory which includes to critically review their IP portfolio and help them to identify which patents are profitable and which could be done away with for efficient portfolio management and cost control.
Typical IP categorization includes defining IP type wise, core IP rights and related IPs, IP as licensed/in-house explored/sold out etc. along with basic types of IP inventories such as business unit wise, application and granted status wise, product line wise, inventor wise,year wise, validity status, etc. for strategic purposes.