Coller IP has been carrying out IP Audits for a wide range of companies over many years. Recently our recognised IP Professionals have been commissioned to carry out IP audits in Scotland, England and Wales for companies with funding support from the UKIPO. Small and medium sized companies may receive UKIPO funding for IP audits. Each country in the UK has a different partner intermediary that approves the application for the IP Audit and interacts with the IPO on approval for funding.

In Scotland, the process appears to be very straightforward and companies can contact the Intellectual Asset Centre, part of Scottish Enterprise to seek approval; in Wales companies can gain approval via the Welsh Government and in England companies must be approved via participation in the Growth Accelerator Programme. The funding is a set £2,500 plus VAT. (£3,000 including VAT).

The audits follow the guidance as issued - and during an audit we can also discuss matters relating to IP Strategy, IP Valuations and IP Protection matters and can initiate discussions relating to infringement or other due diligence issues. Coller IP provides a full IP practice and is able to advise on all IP business related matters, including the requirements of the Patent Box.

Any business could benefit from an IP audit; it is particularly relevant to SME's in helping to ensure that potential intellectual property assets are identified and appropriately managed.

The IPO funded audit includes the provision of advice and support towards gaining and maximising the value of IP. This funding is particularly awarded where IP has been identified, but further guidance is required in respect of managing and developing an IP strategy and where it is demonstrated that IP protection is significant to the development and commercialisation of the product/service to allow the business to grow.

The IPO envisage that their funded support would help the business develop effective strategies to take the product/service to market and offer a means of increasing market place success. This support is particularly relevant where there is an existing IP portfolio or where significant IP assets are involved.

For the IPO funded audit, Coller IP would prepare for a visit or meeting, identify IP of value, advise on key issues and provide and a report setting out clear recommendations.

The report will include action points for how to best leverage value out of and how to manage IP; it will be tailored to the specific needs of the business/project.

The audit will cover the following -

  • Patents – identify pending applications, granted patents, potential patentable technology, potential patent infringements;
  • Trade Marks – identify registered and unregistered trade marks, searching procedures prior to introduction of trade mark, possible infringement of third party rights;
  • Designs – identify registered and unregistered rights, possible protection through Design Right and Community Design Right, possible infringement of third party rights;
  • Copyright – identify copyright (databases, websites, marketing/promotional material, photography, film), ownership/assignment of copyright from creators, procedure for establishing date of creation, copyright indicators on protectable works, database rights;
  • IP Management – to include confidentiality (or non-disclosure) agreements, trade secrets, technical know-how, employee agreements and dissemination of IP policy throughout the company, licensing, evaluating existing IP, IP policy including registration, renewal systems, monitoring/watching services and enforcement and international filing strategies.

- and other intangible assets that add value to the business.

For more information on how to apply for an IPO funded audit call Coller IP and speak to Maurice Alphandary or Jackie Maguire on 0870 402 1611.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.