IP audits are useful to assess what IP your business owns and should register in order to maintain its competitive advantage and protect its legal position. This is especially true with respect to patents, industrial designs and trademarks.
Applications to register patents and industrial designs in Canada must be filed within 12 months of disclosure to the public, while in many countries, there is no such grace period - disclosure bars the filing of a patent or industrial design application. An IP audit can help to identify what inventions your business has and should apply to patent so your business' competitive advantage does not become available for anyone to use.
With respect to trademarks, Canada and many other countries operate on a "first to file" basis" - applications are processed by the government in the order in which they are filed. This means that those with prior unregistered rights must oppose any earlier filed applications - a usually far more expensive process than the early filing of a trademark application. An IP audit can help identify which of your business' product names and slogans can be registered as trademarks, to avoid having to spend more money later on in order to defend your brand.
Our IP audit services include:
- Reviewing your company's assets to determine what IP it owns.
- Developing a strategy to determine when any IP uncovered by an IP audit should be registered, in order to assist with prioritization and budgeting.
To become an IP Audit client, please contact: