Intellectual Property Internal Audit Template—Checklist
Checklist
A review of a company's intellectual property (IP) assets may be undertaken for several reasons, including: stocktaking, strengthening company assets in the balance sheet and filling in gaps relating to company assets, valuing and exploiting company assets, identifying threats and minimizing the risk of litigation, and developing a system of managing and maintaining the IP.
This checklist is designed to identify key considerations which may arise during an audit of IP.
Checklist | Notes |
|---|---|
Reasons for the audit: | |
Consider context of audit, whether the purpose is to re-establish procedures because the business has outgrown existing procedures, in order to prepare for a sale or purchase, or because an infringement has occurred or other litigation is contemplated. Consider extent of audit, i.e., whether it will include all companies in the group including those in other legal jurisdictions. | |
Appoint an IP contact: | |
Once context is established consider appointing a dedicated IP contact(s) within the company. Appoint an IP contact or dedicated IP expert. | |
Known IP: | |