IP AUDITS
Intellectual Property Audits for Companies
You might think an audit is only for worried companies. In fact, well-run, successful companies use audits to improve performance and assure compliance with the many local, state, federal, and international laws and regulations.
Non-compliance with laws can cause sudden, significant losses. By uncovering problems earlier, you can save legal and other expenses – and you, your board, and your shareholders will rest easier.
The goal of an audit is to eliminate legal violations and improve a company’s practices in chosen areas, such as procurement or intellectual property. The audit must be cost-efficient, thorough, and solution-focused.
We start by properly defining the problem and creating an audit plan. We will work with you and your management, inside counsel, outside counsel, and other advisers to begin the process.
We then conduct our investigation in a method best suited for your company. This can include questionnaires, document review, and interviews. Our analysis will review your compliance and practices from top to bottom. We will uncover your problems and report them to you in an actionable way.
A successful audit will generate solutions that improve your business, in addition to searching for non-compliance. The audit will generate best practices recommendations which will allow you to seize opportunity and to prevent liability.
Experience
It is critical that experienced executives and managers be on the audit team. With this background, they can more easily work with your company. An experienced business manager knows how companies work and realizes each company has its own unique, useful methods.
We perform audits in many different areas. Most clients choose a single area key to their company’s operation to ensure this key area is in compliance with the law. Then, you can be assured you will be (1) avoiding unpredicted losses, and (2) taking advantage of all laws.
Benefits
We will help your company focus on its bottom line and important business goals. Not only can future legal problems and costs be eliminated, but audits can also reveal unknown business opportunities such as capital allocation, areas for expansion, and even tax-friendly business structures.
The goal of an audit is to change things for the better and we can help you.
Intellectual Property Legal Audit
Review your intellectual property (“IP”) assets- patents, copyrights, trademarks, trade secrets (e.g., customer lists), and proprietary information to determine if your IP is optimally supporting your goals. Ensure that you have adequate legal title to your IP. Review the company’s processes to create, capture, use, and protect IP. Address offensive and defensive considerations. Create guidelines and systems to create, capture, use, and protect IP. Review infringement monitoring and reporting practices. Determine if key employees sign enforceable non-competition agreements. Assess if your contractors pass title to their inventions and work product to the company.
Internet Issues Legal Audit
Review the ownership of your web assets including copyright, graphics, and domain names. Check whether the company infringes other company’s rights. Check Web Development and Service Level Agreements to ensure you are getting the best support and protection. Do you properly document the receipt of employment applications and customer information collected on your web site? This information is subject to state and federal privacy protections. Do you have consents for website links?