An IP Audit provides a clear picture of a company's intellectual property and intangible assets.

When engaging with SMEs to provide them with advisory services such as Investment IP Readiness Assessment, we regularly find that they do not know what intangible assets they own, have no/very limited documentation and are not sure about what is already protected or could be protected by IP rights such as patents, trademarks, copyrights or trade secrets.

 

What is an IP Audit?

An IP audit starts by an IP professional collecting information from a business about the registered and unregistered intellectual property that they have and provides an informative and useful report which will also include a high-level overview of their commercial potential and potential risks and some initial IP strategy recommendations (e.g. filing a patent, registering a trademark). An IP Audit report is also positively received by investors as it demonstrates the company is taking IP management seriously.

What are the benefits of an IP Audit?
  • Catalogue all IP assets
  • Serve as a basis for an IP strategy
  • Identify gaps in IP protection
  • Surface potential ownership issues (e.g. company logo designed by a friend and not assigned to the company formally) before it has too serious consequences

 

 

What is Dehns IP Consulting’s IP Audit methodology?

 

Dehns IP Consulting works with clients to facilitate an efficient information collection and accurate inventory building based on two main steps:

  1. Company to complete Dehns IP Audit Questionnaire
  2. Dehns consultants to review the completed questionnaire

Thereafter we will:

  • Undertake a discussion with the Company in a video call or face-to-face meeting to clarify answers if required
  • Produce a written IP Audit Report

 

Is there government funding to cover the cost of an IP audit for SMEs?

 

The UK Intellectual Property Office (UK IPO) IP Advance Scheme provides a contribution of £2,250 inc. VAT for an IP Audit as long as the business contributes an additional £750 inc VAT for an IP Audit carried out by an IP professional.

Applications and funding for IP Advance are via the relevant agency depending on the location of the business:

The regional business advisors at the agencies listed above have IP experience to decide if an SME is suitable for the UK IPO funded IP audit.

Other European countries may have similar schemes.

 

What’s Dehns’ differentiator in providing an IP Audit service?

 

  • Dehns is one of Europe’s largest IP firms helping inventors, universities, SMEs and corporates identify, secure and defend patents, trademarks, design and trade secrets.
  • Dehns has multiple regional offices in the UK (London, Brighton, Manchester, Bristol and Birmingham) and very broad technical expertise across numerous industries to ensure they will recognise and understand SMEs potential IP assets.
  • IP professionals at Dehns are very experienced in working with SMEs, helping them build an inventory of their IP assets, protecting them, identifying potential risk and opportunities and providing a pragmatic action plan.

 

Contact

Get in
touch
+44 (0)20 7632 7200 mail@dehns.com