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How can I know if my company has intellectual property assets? What is an intellectual property audit?

image of How can I know if my company has intellectual property assets? What is an intellectual property audit?

While some businesses have sophisticated processes and systems in place to identify, protect, and manage IP assets as they are created, a surprising number do not. Some businesses have systems for managing those IP rights that can be registered (patentable inventions and registrable trademarks, for example), but find themselves in trouble when valuable staff members leave, taking undocumented know-how with them. Even for ‘IP aware’ businesses, systems should be periodically reviewed and staff trained or reminded of how to get the most out of the IP assets held by their business.

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