INTELLECTUAL PROPERTY

PROTECTION- TIME DRIVEN

MAINTANENCE- PERIODIC

ASSET IDENTIFICATION

EXPLOITATION- FRAGMENTED

RISKS- MULTIDIMENSIONAL

WIPO DEFINITIONA Systematic Review of the IP Assets

Owned, Used or Acquired by a Business

4 FOLD PURPOSE UNCOVER UNDER-UTILIZED ASSETS DEVISE INFORMED STRATEGIES MAINTAIN & IMPROVE MARKET POSITION INVENTORY OF ACQUIRABLE IP

GENERAL AUDIT COVERS ALL IP WIDE SCOPE &

GENERAL OBJECTIVES

SPECIFIC AUDIT/EVENT DRIVEN

COVERS SPECIFIC IP COVERS SPECIFIC

EVENT NARROW SCOPE &

MORE SPECIFIC OBJECTIVES

WHY IP AUDIT

INVENTORY CREATION

RIGHTS MANAGEMENT

ASSESS PORTFOLIO

FUTURE MANTAINANCE

EFFECTIVE ECONOMIC

USENEW CREATION & ACQUISITION

MINIMIZE INFRINGEMENT

RISK

COMPETITIVE ADVANTAGE

HOW IS IT CONDUCTED

STRATEGY FORMULATION

NECESSARYACTIONS

CATALOGING

AN ILLUSTRATION

INTERNAL ASSET

PRODUCT LIFE

EXTENT OF USE

IMPORTANCE

VALUE($)

A WORD OF CAUTION!

IP AUDIT HAS BOTH LEGAL AND MANAGEMENT ASPECTS

ANALYSIS OF CATALOGED IP FOR FURTHER

ACTIONS

LEAVE IT TO LEGAL EXPERTS

ONCE CATALOGED AND ANALYZED BY

LEGAL EXPERTS

STRATEGIC MANAGEMENT

DECISIONS

Statement of rules & procedures governing IP setup in an organization› Generation› Ownership› Protection› Confidentiality› Benefit Sharing› Recognition

Various steps an entity has to implement to ensure that IP created by a personnel in the entity is appropriately protected› IP hygiene› Prevent loss of IP› IP Awareness = More IP Assets

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