Audit and Due Diligence-IP

Conduct and oversee a comprehensive and periodic review of protected and protectable intangible assets in accordance with IP laws to assess liabilities and risks in order to properly utilise IP assets for market dominance and profitability

Type

Domain

Competency Area

IP assets development and management

Levels

Understands the rationale for conducting IP audit and due diligence

Understands the characteristics of IP assets and aspects related to exclusivity, application, valuation and enforcement

Understands the legal due diligence process and various types of contracts and agreements (such as licensing and franchising agreement, technology transfer)

Recognises the significance of due diligence in different business and investment transactions (such as Merger & Acquisition, joint ventures, project finance)

Utilises available databases (such as public records from IP office) to cross-check information

Categorises intangible assets and agreements for business transactions

Defines the nature of IP agreements required for the transactions (such as technology transfer agreements in acquisition deal)

Identifies relevant intangible subject matters for investment in the organisation and categorises those as protected or protectable under IP law

Gathers insights on the gaps and lacunae in the IP ownership or usage rights to inform buyers and provide sellers with opportunities to plug the gap

Assists in the verification of facts and information received from the target and collation of the due diligence report in accordance with the organisation's procedures

Determines ownership and related risks

Investigates the applicability of IP protection for the protectable subject matter relevant to investment

Proposes strategies to assess the infringement threats and/or risk involved in relation to IP assets and minimise/segregate risks to the extent possible.

Reviews the IP audit scopes to ensure completeness, integrity, and feasibility of audit procedures

Prepares IP due diligence checklist and conducts various checks (such as ownership check, claim check, validity check) to ascertain IP rights

Oversees IP audit findings and implications on business strategies

Evaluates the intangible assets of a business to review IP's scope of protection, validity and enforceability

Assesses the organisation's business strategies and models to determine objectives of IP audit

Analyses IP audit results to identify key findings and incorporate these into the organisation's IP monetisation strategy