IP Audits & Due Diligence
The term “Intellectual Property” (IP) covers a range of matters, including copyright, trade marks, patents and design rights. Most businesses will own IP even if they do not know about it. IP can drive value for your business, from delivering competitive advantages to creating revenue streams. Knowing what IP rights you own and their strategic importance to your business is an important step in realising the potential of these assets.
An IP audit is a first step towards making these assets, even if they are not tangible, work for you. An IP audit can reveal the strengths and weaknesses for your business in respect of IP and can also help you to understand how to spot when third parties are infringing your IP rights.
What should you be thinking about if you own IP rights?
As a business you will want to understand what IP you own and how you can make the most of those assets commercially. You can do this by carrying out an IP Audit or IP due diligence exercise. We can help to review your IP position so you understand what the strengths are but also identify any weaknesses so advice can be given about how further protection could be obtained. We can look at a business as whole or more specific projects and / or contracts in the context of IP.
What should I think about if I have a specific business transaction or agreement which relates to IP?
It is important to understand that IP is crucial to a lot of business transactions and agreements – even if it not obvious at first. You may therefore wish to carry out due diligence before agreeing these types of transactions and agreements to make sure you are getting what you need in terms of IP rights. We can help with the IP due diligence and any contract reviews which have an IP aspect to them.
How can we help?
We would look at your business and work together with you to review all key aspect of your IP to fully understand your IP legal position. We can also carry out specific IP due diligence exercises if required, which are designed to understand key aspects of the IP in your business in respect of particular agreements or business transactions.
We specialise in providing cost-effective legal solutions clearing your path to success, and we have specialist expertise in intellectual property matters which we can help you with. We support the likes of Onfido, Multiverse, and Truelayer - ensuring they can build and bolster their commercial relationships.
In need of support from intellectual property lawyers in the UK? Get in touch with our intellectual property lawyers Intellectual Property Team.
How to get started
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