Intellectual Property Audit

An intellectual property (IP) audit is an effective and thorough way to understand, to protect and to unlock the commercial value of your creations, competitive advantages, innovations and brand assets. 

Our specialist IP solicitors deliver comprehensive and tailored audits for clients both in the UK and internationally. 

What is an IP Audit? 

An IP audit is a thorough analysis of a business entity’s registered and unregistered: 

• Patents 
• Copyrights 
• Trade marks 
• Design rights 

An IP audit is typically delivered by a specialist intellectual property lawyer who is able to balance the client’s commercial goals with the analysis. 

Done well, an IP audit is not simply a listing exercise; it’s a genuine opportunity to revisit the business’ competitive advantage and set the stage for the future of the assets. 

Our IP Audit Process: Step-by-step 

The clear four stage process with clients is as follows: 

1. Initial Discovery Meeting 

It’s crucial to first understand the nature of your business, its model, your products and services, your plans for the future, your competitor landscape, and your goals for the audit. 

This discovery session ensures alignment with commercial objectives. 

2. Business and Documentation Review 

A detailed review follows of your: 

• Registered and unregistered IP 
• Brand assets and product designs 
• Internal policies and governance 
• Third-party contracts and licenses 
• Any documentation you provide relating to ownership or use 

This essential stage of the process identifies not only the gaps, risks and areas of urgent attention, but commercial opportunities too. 

3. Comprehensive Audit Report 

You receive a structured and easy-to-follow IP report outlining: 

• Your current IP position 
• Clarity on asset ownership 
• Risks and vulnerabilities 
• Recommendations by priority 
• Commercial opportunities to leverage your IP for commercial value 

4. Implementation 

We discuss all findings and help you to implement the recommended actions. This includes assistance with both the UK Intellectual Property Office and methods of protection overseas, including via the Madrid Protocol, Hague System or Unified Patent Court. 

The work doesn’t stop with filing applications – we look at drafting or updating relevant contracts, strengthening governance procedures, and setting you on the best path. 

Who Benefits from an IP Audit? 

Typical situations we find clients in which particularly benefit from an IP Audit are businesses who are: 

• Developing or launching new products or services
• Preparing for sale or investment
• Managing a broad portfolio of intellectual property which requires straightening out
• Working with external partners for which clarity on IP is required
• Expanding internationally
• Expanding from overseas to the UK
• Fast growing businesses requiring better IP governance
• Intra-group sharing of intellectual property requiring clarity over the sharing of assets between bodies 

Working with Napthens team means working with solicitors 100% dedicated to matters of intellectual property. We also offer intellectual property litigation for any IP disputes, enforcing breaches and infringements against your IP. 

Support Through to IP Advance Scheme (Innovate UK) 

Some clients choose to access IP support through government-backed initiatives. The IP Advance Scheme is one such method, offering business the opportunities to partly fund an IP audit. 

This scheme helps business to identify and protect their IP, and is delivered by specialists such as Napthens. 

Get in touch to discuss your requirements or to learn more. 

Start Your IP Audit with Napthens 

Make an enquiry via our form to get started. Where relevant, our IP team has the ability to bring in expertise from commercial lawyers to review the likes of important contract terms, and corporate lawyers to assess the nature of an asset sale, share sale or other business restructure.