Legal audit of IP (intellectual property)

Intellectual property (IP) legal audits play a key role in ensuring the protection and effective management of IP assets. These objects are understood as means of individualization, databases, computer programs and other results of intellectual activity specified in Article 1225 of the Civil Code of the Russian Federation. For many modern companies, intellectual property represents a major asset. Over the past few years, the value of intellectual property objects (IPO) has shown continuous growth, which means that a company that fails to properly manage such an asset suffers huge losses. At the same time, technical progress does not stand still, which means that every year the production process becomes more knowledge-intensive. Moreover, with the help of IPO, goods and services become more competitive.

Thus, conducting a legal audit of this area is vital for any modern company.

Audit of intellectual property objects

A legal audit of intellectual property (IP) is a systematic and comprehensive analysis of the legal status and management of rights to intellectual assets in an organization. The purpose of IP due diligence is to identify risks associated with intellectual property rights and to identify opportunities for improvement and optimization.

An IP due diligence may be conducted as part of the process of assessing the health of a company prior to a transaction, financing or merger, or to ensure that intellectual property is effectively managed in the day-to-day operations of the business.

Stages of the audit

An audit may include the following steps:

• Asset Identification and Disclosure: identification of all IPO that the organization owns or may own.
• Legal status assessment: analyzing whether intellectual property rights are protected, up to date and in compliance with the law.
• Risk assessment: identifying possible legal issues. These include: infringements of third party rights, possible infractions, rights term issues, etc.
• Rights management: assessment of the organization's intellectual property rights management system, including processes for registration, enforcement, licensing, etc.
• Strategy development: proposing recommendations and strategies to improve the intellectual property management structure, reduce risk and increase asset value.
• Compliance: verify the organization's compliance with the existing intellectual property laws.

Identification of potential IP assets

The audit aims to identify not only the existing, but also the potential IP assets. This includes assessing opportunities for additional registration of patents, trademarks and other intellectual rights. Identifying potential intellectual property (IP) assets within a company is an important process that can help protect and maximize the value of the innovation and knowledge created by your company.

Examination of documents related to IP objects

The main focus of the audit is to thoroughly analyze all documents related to intellectual property. This includes analysis of patent certificates, license agreements, intellectual property disposal agreements, software development contracts and other documents defining the transfer and use of rights to intellectual property objects.

In addition, the audit includes a review of contracts with employees and contractors associated with the establishment of facilities. The audit includes the analysis of contracts concluded with employees and contractors involved in the creation of IP objects. This helps to identify and prevent possible disputes over the rights to the products and technologies created, as well as to determine compliance with confidentiality terms.

Legal support of legal proceedings

Intellectual property litigation legal support requires in-depth IP knowledge, litigation experience and strategic thinking to effectively protect a company's interests. Disputes in this area may be related to challenging acts of state authorities (mainly Russian Federal Service for Intellectual Property), as well as to the protection of the company's rights from third parties.  

In case of disputes or violations of the client's intellectual property rights, GMT Legal provides legal support services for litigation. Competent lawyers of the company provide protection of the client's interests in court, striving for the best outcome of the case.

Order a service from GMT Legal

To order an IP legal audit service from GMT Legal, clients are offered an opportunity for a detailed consultation with the experienced lawyers specializing in intellectual property. The Company ensures full confidentiality within the scope of its services and provides clients with an opportunity to choose the optimal strategy for protection and management of their assets. Preliminary assessment of the cost of the service includes consideration of the scope of intellectual assets to be audited, as well as the complexity of their legal status.

IP legal audit from GMT Legal provides clients not only with a detailed analysis of the current state of their intellectual assets, but also with practical recommendations for securing their legal status. Additional services such as monitoring and legal support of litigation provide a full cycle of protection of client's interests in the field of intellectual property. Order an IP legal audit service from GMT Legal to ensure reliable and effective protection of your intellectual assets.