Most successful businesses are underpinned by intangible assets – Intellectual Property, or “IP”.
In order to identify and maximise this key asset, its monetary value must be identified and then leveraged as a recognisable USP and key driver in mergers, acquisitions and investments. IP must also be valued for the purposes of budget planning to produce costeffective product and brand protection within an ongoing IP strategy, as well as when considering exit strategies following the sale of a business.
What is an Intellectual Property Strategy Review?
An ACID Intellectual Property (IP) Audit is available to corporate ACID members (categories 5-8 inclusive). The IPSR normally involves a visit to your premises (wherever possible) by a lawyer from the team of ACID’s accredited lawyers and sometimes also by a representative of ACID.
The ACID IP Audit provides:
• a comprehensive explanation about the benefits associated with your ACID
• an excellent opportunity for ACID and its accredited lawyers to find out more about your business and what is important to you, with a view to developing a bespoke strategy for the protection of your intellectual property;
• a short presentation providing a simple explanation of the intellectual property rights that will be relevant to your business;
• a thorough review of your design creation process, with a view to ensuring that all necessary steps are taken to secure protection for your intellectual property.
Wherever possible, this would include meeting members of your design team and viewing any factory premises to see the manufacturing process in operation;
• practical advice on how to ensure that your company is fully protecting, exploiting and reinforcing its intellectual property rights;
• a review of any design registrations and discussion on possible future design
registrations and design portfolio strategy;
• a review of any patent registrations and discussion on possible future patent
applications and patent portfolio strategy;
• a review of any trade mark registrations and discussion on possible future trade mark registrations and brand management strategy;
• an initial review of any contracts that you use (for example, any standard terms and conditions that you use with third parties, contracts of employment and licence agreements) and recommendations on a more thorough review which may be required after the audit;
• consideration of any examples of potential infringements of your rights which you may have;
• a question and answer session to allow you to ask any questions that you have about intellectual property protection, exploitation and enforcement, or any other legal issues.
A headline recommendation will be sent following the visit and free IPSR. Should any ACID corporate member wish to implement a full IP Audit together with budget recommendations they will need to negotiate this separately with the accredited law firm involved.
IPSR’s are available to non-corporate members at a charge of £950 plus VAT.