Do I have Intellectual Property rights?

You should always keep a record of your IP assets. This is called an IP audit, and it will help you when it comes to valuing your IP.

When you’re doing an IP audit you should identify the products and services that are most important to your business, and the legal rights associated with them. For example, patents, trademarks, designs, and copyright.

Identify the market advantage these rights give you. After you’ve done this you should value your IP assets as you would your physical assets. Your customer list or database can also be an asset that you should identify and protect. A secret recipe or unique service technique also falls into this category.

As a starting point you, can try and calculate how much time you would need to develop these assets from scratch or estimate how much a competitor might pay for them. If you are finding this task confusing an accountant might be able to help you by value in these assets and placing them in the context of your business.

MORE ABOUT INTELLECTUAL PROPERTY

What is intellectual property?

Is Intellectual Property important to my business?

Should I get a trademark?

Should I get a patent?

Should I have a registered design?

Is copyright important to my business?

About
Latest Posts

Editorial Staff

SME Business Academy is #1 place for SMEs.
Valuable and practical advice in crucial business areas. No fake experts!
High Quality knowledge, fresh ideas, inspiration and motivation delivered for you
by a Community of experienced, honest and trusted advisers.