An IP audit reviews the intellectual property a business owns, uses or depends on, together with the records supporting those rights. It helps turn a scattered collection of registrations, contracts and technical material into an evidence-based action plan. Define the business decision and scope before treating an audit as a simple patent-number inventory.
Why Carry Out an IP Audit?
An audit may support a product launch, investment review, acquisition, licensing project or portfolio-management decision. Different purposes require different depth. WIPO’s IP audit guidance explains how a review can identify assets, ownership questions and gaps.
Start With an Asset and Evidence Register
For each asset, record its description, business use, responsible person, relevant identifiers and source documents. Include registered rights and relevant unregistered material, such as software or confidential know-how. Distinguish an asserted asset from one supported by evidence.
A practical register can include columns for owner, jurisdiction, status source, review date, agreement reference, upcoming action and unresolved question. Link entries to organized documents so another reviewer can verify the record.
Review Ownership and Permissions
Compare the claimed owner with assignments, employee or contractor agreements and relevant official records. Identify licenses or restrictions affecting use or transfer. Where documents conflict or are missing, create an issue for qualified review rather than assuming the register entry alone resolves ownership.
Reconcile Patent Records and Deadlines
Check application and publication identifiers, family links, relevant dates and required actions against reliable sources. Review correspondence, fees and recorded instructions with the responsible practitioner. Disclosure duties and consequences depend on the applicable rules and facts; an audit should flag questions rather than assert automatic invalidity from an unexplained omission.
Convert Findings Into Assigned Actions
Separate missing evidence, inconsistent data, approaching deadlines and strategic decisions. For each issue, name an owner, required evidence, priority and target date. Review proposed cost reductions or abandonment decisions against business needs and professional advice before acting.
An audit does not automatically establish value or clear a product of third-party rights. Those questions may require additional valuation, claim analysis or jurisdiction-specific research. Keep the scope and limitations visible in the final report.
Prepare for an IP Audit Discussion
Gather the asset list, key agreements, official correspondence, business objectives and known concerns. See our patent docket guide and valuation methods overview. Contact Menteso to discuss document organization, research and a defined audit-support scope.