Know What You Have
(IP Audit) and What
the Other Guy Has
|•||Know the goals of an intellectual property audit|
|•||Understand the advantages conferred by having an outside organization (rather than in-house personnel) perform the IP audit|
|•||Identify core, noncore, and useless patents in your portfolio|
|•||Gain useful information about your competitors' business and product plans through monitoring their patents and patent applications|
|•||Understand patent mapping's advantages and limitations|
Often, a firm does not know or may not fully appreciate the scope and applicability of its intellectual property. To paraphrase one business executive, “Had we known then what we know now, we would be twice the size.” The means to correct this lack of knowledge is an intellectual property audit.
Questia, a part of Gale, Cengage Learning. www.questia.com
Publication information: Book title: Essentials of Intellectual Property. Contributors: Alexander Poltorak - Author, Paul Lerner - Author. Publisher: Wiley. Place of publication: New York. Publication year: 2002. Page number: 59.
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