By J. Grant Moubry
While the term “Intellectual Property Audit” may sound abstract or complex, it is a term with which all business owners and executives should become familiar. A generation ago, much of a company’s assets were tangible, i.e. buildings, equipment and goods. Today however, most company’s assets are typically comprised of intangible assets. Such intangibles may include trade secrets and rights to patented articles or methods, service or trademarks, or copyrightable material. An intellectual property audit provides an assessment of these intangible assets for your company, as well as establishing or maintaining an effective strategy for the maintenance of your intellectual property and training your personnel to properly identify intellectual property issues as they arise.