IP Audit and Due Dilligence
JLG will assist you in evaluating the strength of your IP assets (copyrights, trademarks, trade secrets and patents) and identify any potential issues with respect to those assets.
Over the last few years, the value of Intellectual Property has increased significantly. The American Intellectual Property Law Association reports that 50 years ago, about 80% of a typical company’s assets were tangible (buildings, equipment, and the like) and 20% were intangible. Today, the relative value of tangible and intangible assets has essentially reversed so that approximately three-quarters of a typical company’s assets are intangible assets such as IP rights.
Today, it is absolutely essential for a company to understand, obtain, maintain, and enforce their intangible assets. It is also necessary to maintain a reliable mechanism to determine the ownership and status of their intellectual property rights. They should also take care not to infringe a third party intellectual property right in order to reduce risks of costly litigation. We address these issues by conducting an intellectual property audit.
At JLG, our IP audit program provides an assessment of the intangible assets of your organization. Our IP audit group will help to quantify the value of the intangible assets of your company to the extent that such value depends on the legal right to those assets.
We will evaluate and examine the strengths and weaknesses in the procedures used to protect each intangible asset and secure appropriate intellectual property rights.
Where it is necessary, we provide tools to develop additional process, make improvements to existing processes, and take correcting measures to help ensure capture of future intellectual property rights. The audit also provides tools and processes to help minimize issues involving third party rights.
We analyze whether you own or have sufficient rights to the intellectual property assets that are essential to your business, and identify any significant risks associated with the company’s use of intellectual property of others.