Updated: Feb 25, 2021
The field of IP is extremely broad. We have found that, because of this, many businesses do not know where to start. We are often asked “Do I have IP?”, “How do I identify something worth protecting?” and, “Is there a particular strategy I should use when it comes to IP protection or management?”. If these questions echo yours, you might consider an IP AUDIT.
What is an IP Audit?
An IP Audit is a thorough review of your registered and unregistered Intellectual Property, as well as the strategy for protecting it. It provides insight on how to identify potentially patentable inventions, registerable trade marks and designs and identifies/analyses potential threats to your IP posed by competitors. IP Audits are also extremely useful for those looking to identify or establish a strong IP strategy.
IP Audit Conducted by Fresh
As well as having a strong, global knowledge of IP, we at Fresh have a “Strategy-First” approach. This is reflected in the range of areas we analyse as a part of your IP Audit:
- Existing IP (Patents, trade marks, designs, copyright, domains)
- Potentially registerable IP
- Potential IP threats
- IP Management – Including advice on Non-Disclosure Agreements, Ownership Safeguards (Assignment of IP rights from Employees)
- A guide on how to capture “Hard IP” (Patents, trade marks, designs)
- A guide on how to capture “Soft IP” (trade secrets, know how, copyrights and goodwill)
- Strategic recommendations (How & where to protect IP, making your portfolio strong & appealing to investors, cost efficient filing practices).
Through its “IP Audit Plus” programme, the UK IPO will cover almost the entire cost for an IP audit for eligible businesses.
To apply for an IP audit, you will need to be supported by one of the UKIPO’s partners. Recognised partners include Innovate IP Edge (previously the Enterprise Europe Network programme), Scottish Enterprise and the Welsh Government. If you would like to proceed, Fresh can point you in the direction of your relevant partner scheme. If accepted, your partner scheme will then advise whether your company would be suitable to apply for an IP audit. Assuming you are suitable and are advised to proceed, an application is made via your partner scheme to the UKIPO on your behalf. If the UKIPO accepts your application, you would then instruct Fresh to carry out the IP Audit.
What is the Cost of an IP Audit?
The cost to a company eligible for a part-funded IP Audit is £500 (including VAT). The full price is £3000 (Including VAT) however, it is heavily subsidized by the UKIPO who will contribute £2500 (including VAT).
Fresh can perform privately funded IP Audits for companies not eligible for a part-funded IP Audit, which can be fully tailored to your requirements. The cost for this would be dependent of the scope of the Audit and would be provided in advance.
Please email us at email@example.com if you would like to discuss this further.