What is an ‘intellectual property audit’?

An intellectual property audit is an evaluation of the intellectual property owned by a company or organization. This type of audit evaluates existing trademarks, copyrights, patents, trade secrets, and other forms of intellectual property to determine their current status and identify any potential risks. In South Carolina, this type of audit is especially important since state law protects intellectual property including trademarks, copyrights, trade secrets, and patents. An intellectual property audit will provide a business with a detailed analysis of the types of intellectual property they own, any potential risks they face, and the steps needed to manage and protect their intellectual property. This information can then be used to develop strategies for protecting the business’s intellectual property and preventing infringement. In addition, intellectual property audits can help businesses understand the terms and conditions of any licenses they may have granted to third parties or received from third parties. Finally, an intellectual property audit can provide valuable insight into how a business can best use its intellectual property and maximize its value.

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What is an ‘intellectual property audit’?

What is an ‘intellectual property audit’?

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