Where do IP Assets fit within my Business?
Intellectual property is not, and should not, be an isolated matter. For best effect, consideration of IP needs to be integrated into a business. To do this requires a close understanding of where a business is, where the business is going, and how IP assets might fit into the business.
We aim to work with our clients so that:
- they understand how IP assets can fit with their business aims (and to understand where third party IP may pose a threat); and
- we achieve sufficient understanding of our client’s businesses to assist in crafting appropriate IP protection for their circumstances.
As well as considering the breadth of different IP rights that may be relevant to a client’s business we also assist in exploitation of IP assets and management of IP risks and opportunities.
We also aim to assist our clients in developing appropriate internal practices to ensure innovation is captured, and to be able to recognise risks from the IP rights of third parties.
Any business, whether a start-up or an established market player, can benefit from an evaluation of their IP portfolio and IP management strategy. An IP Audit produces a report with which a business can review their practice and tailor their efforts to maximise value from any generated IP assets.
By understanding your business strategy, aims and ambitions, we carefully analyse any existing IP assets ensuring it aligns with any goals. We identify opportunities for future IP generation and provide experienced advice and support on how these can be harnessed to maximise their value for your business. An audit includes working with your business to produce a coherent IP Management Plan to ensure that all positive R&D output results in growth and commercial success.
Should an audit find any issues with third-party IP assets, we provide recommendations and a guide as to costs of any further action. Similarly, the report will include projected costings for any other actions related to findings, such as the need to register Trade Marks to strengthen a brand.
Benefits to businesses undertaking an IP audit include reducing costs associated with converting innovation into leverageable assets, helping new ventures understand the complex field of IP and how their business may generate it while balancing this with limited funds, and maximising the value of current assets.
Financial support for UK SMEs is available from the UK Intellectual Property Office, further information is provided here.
To discuss your needs or to find out more, contact us.