IP audits: A forensic review of your intellectual assets
Your business holds a treasure trove of intellectual property (IP), but much of its financial value may be invisible.
It exists in the code you write, the creative designs you produce, the customer data you gather, the knowledge your team possesses, and the brands that people recognise you for.
An IP audit is the essential first step in identifying these intellectual assets and understanding their full value and commercial potential.
It provides visibility to what underpins what makes you unique, and a tangible, actionable roadmap for your IP strategy.
IP Audits: How we assist businesses
At Virtuoso Legal, we don't identify what IP you have; we review it with a commercial lens - identifying its potential to fuel your business' growth.
Our unique capability is in our forensic approach, which combines legal expertise with a commercial and technical understanding.
We're a team of strategists who delve into your business to uncover and define every asset, ensuring you have a clear picture of what you own, its value to your business and how to protect it.
Our unique capability in this area
We believe an IP audit should be a comprehensive and illuminating process that delivers real, tangible results.
We work as your partner to provide a clear, detailed picture of your IP landscape.
- Comprehensive identification: We conduct a systematic, in-depth review of your entire business to identify all forms of IP, both registered and unregistered. This includes an analysis of your trade marks, patents, designs, copyrights, trade secrets, and confidential information.
- Risk analysis: We assess the vulnerabilities in your current IP protection. This includes identifying potential infringements, weaknesses in licensing agreements, or gaps in your internal processes that could put your intellectual assets at risk.
- Strategic recommendations: The audit culminates in a detailed report with clear, commercially sound recommendations. We provide you with a tangible action plan for securing, leveraging, and commercialising your IP for future growth.
IP audits: Common questions and answers
What is the difference between an IP audit and an IP valuation?
An IP audit is a qualitative and legal assessment: it asks, "what IP do we have, is it legally valid, and do we own it correctly?"
An IP valuation is a quantitative, financial assessment: it asks, "What is this valid IP worth in the market?" The audit must always precede the valuation to ensure the asset being priced is legally sound and that the required ownership is in place.
How does an IP Audit help with investment or acquisition?
For investors (due diligence) or buyers (M&A), the biggest fear is a hidden legal liability that destroys transactional value. ]
An audit provides a clear, independent definition of your IP assets, confirming ownership, validity, and freedom from major infringement risks. This transparency drastically speeds up negotiations and supports a higher, defensible valuation.
What kind of problems does an IP Audit usually uncover?
Common issues we uncover include: ownership gaps (IP created by a contractor whose contract didn't assign the rights to the company), maintenance defects (expired or poorly maintained registrations), and unmanaged confidential information (no clear policies or procedures to protect trade secrets).
Fixing these defects is often the core value of the audit.
How long does a typical IP Audit take?
The timeline depends heavily on the size and complexity of the business.
A targeted audit focused on a single asset or product line can take a few weeks. A comprehensive, enterprise-wide audit may take several weeks or months. We provide a tailored proposal with clear, fixed-phase timelines before commencing work to ensure budget certainty.
Ready to uncover your hidden assets?
Your IP is too valuable to remain unidentified.
Use the calendar below to arrange a strategic consultation with our team to discuss how a comprehensive IP audit can provide the clarity and confidence you need to grow your business.
The content on this page is provided for general informational purposes only and does not constitute legal advice. No solicitor-client relationship is created by your use of this site. While we strive to ensure the information is accurate and up-to-date, it should not be relied upon as a substitute for professional legal counsel. For specific advice regarding your legal situation, please contact us directly to arrange a consultation.
Find out more about how we charge for what we do here.