Using Audits to Identify and Protect Intellectual Property Assets

For technology-based companies the most significant asset is generally their intellectual property rights—patents, copyrights, trade secrets, and trademarks—and there is a real and substantial risk to those companies if they fail to take the necessary steps to preserve the value of these assets.  In order to analyze the legal risks in this area, and take appropriate steps to minimize and manage those risks, companies should conduct regular audits that focus upon the creation of the assets and ownership rights therein; the procedures used to perfect and maintain all legal rights in the asset; and the risk that the use of the assets might infringe upon the valid legal claims or the contractual rights of others. 

The International Center for Growth-Oriented Entrepreneurship has just released a chapter on "Conducting Audits of Intellectual Property Rights" from its Library of Resource for Growth-Oriented Entrepreneurs on Technology Management which is available for free downloading and sharing by clicking here. Also, take a look at the Center's article on LinkedIn Pulse discussing important things you need to consider when auditing your company's intellectual property rights.

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