Protecting intellectual property

Intellectual property management - conducting an audit

The first step to protecting and exploiting your business' intellectual property (IP) successfully is carrying out a systematic intellectual property audit.

To carry out an audit, look closely at your business to:

• identify where IP is used
• find out who owns the IP rights
• assess the value of the IP

This won't always be straightforward. Remember that your IP doesn't just reside in patents you hold or trade marks you have registered. You also need to consider items such as any bespoke software, written material, domain names and customer databases.

Key questions an IP audit should raise are:

• Is my IP protected?
• Am I infringing anybody else's IP rights?
• Am I fully exploiting my IP?

Using a logbook to manage your IP

It can be helpful to record all research, notes, designs and meetings related to your ideas in a dated, tamper-proof logbook, with witness signatures where appropriate. This can serve as a powerful tool, helping you identify and protect your IP later on.

For resources to help you identify your IP, see the page identifying and valuing assets in our guide on identifying, protecting and transferring assets.

Find out about IP on the Intellectual Property Office website - Opens in a new window.

Subjects covered in this guide

• Introduction
• The importance of protecting intellectual property
• Intellectual property management - conducting an audit
• Getting legal protection for your intellectual property
• Assistance with intellectual property protection
• Intellectual property rights and your employees
• Intellectual property and freelance contractors
• Prevent intellectual property infringement
• Protecting your business name and domain name
• Respect other people's intellectual property

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