Introduction

“If you don’t measure it, you can’t manage it” is a very apt saying and explains the entire intent of this service vertical. Intellectual Property and the laws regulating it have undergone sweeping change in the last few years. Considering the value and power of Intellectual Property, too much is at stake to ignore the promotion, protection and commercialisation of such valuable property and ignorance of the laws in any manner can lead to legal disputes. It is not surprising that infringement lawsuits are proliferating. It thus becomes mandatory for any organization to protect and safeguard it’s Intellectual Property. In order to do so it is imperative for the companies to understand as to what rights the organization owns, whether the organization is protecting its right properly, is the mode of protection adequate, whether it has proper procedure to determine what rights it should be registering, whether it has a system to minimize the risk of infringing third party rights, evaluation of contractual term for the right assigned or used under license, how trade secrets are protected from employees, should the organization develop back up ‘mark’, how big should be the inventory of trademark and such other important issues. An IP Audit is defined as a systematic review of the IP owned, used or acquired by a business. Its purpose is to uncover under-utilized assets, to identify any threats to a company’s bottom line, and to enable business strategists to devise informed strategies that will maintain and improve the company’s market share and brand equity.

Experience

GRACE has worked with numerous International Corporates to help set up their IP Cells and conduct IP Audit and Due-Diligence programmes. GRACE has set up a dedicated IPR Audit cell, which deliberates and implements issues that business organizations need to understand. If you feel the need to establish correct practices to manage your Intellectual Property, please reach out to us at GRACE and we assure you our team having the right skill set, across technology domains, would help you to introduce and place on record the correct IP Management systems.

Our Approach

Our audit cell goes through unbiased audit & perfect due-diligence that can help the corporate in:-

GRACE initiates the IP Audit process by reviewing the existing IP Policies, Standards, Controls, Compliance Procedures, and Practices in the Corporate. Based on the review, a critical analysis and comprehensive discussion is done on the existing IP Portfolio of the Corporate and extensive timeline based policy changes, transformations, and activities are charted out to ensure a steady and strong growth in the IP Portfolio of the Company keeping in mind the twofold mandate of Enforceability and Commercialization Capability.