IP Strategy & Audit

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Your intellectual property is more than just stopping a competitor using your logo. Your IP strategy should be as sophisticated as any other strategic objective in your businesses. Your intellectual property can be a valuable asset and proper protection and future proofing adds tremendous value to the business.

Identifying your assets

Our IP audit team can help you identify your intellectual property assets – find out what you have and how you exploit it. We will work with you to identify any ‘gaps’ in your protection and help create a strategy to plug those gaps in the future.

Our IP team will help you understand how best to exploit and enforce your intellectual property. Your IP strategy gives guidance to commercial decisions and helps identify areas of risk and ways to build more business. A fully developed strategy will record the strategic aim behind the business’s intangibles and how best to protect them. It will also reflect and support the overall commercial aims as well as creating an effective framework for decision making. Having a good IP strategy will help you decide:

  • the importance of IP within your business and the effort you want to employ in its implementation;
  • what existing company policies need to change to support your IP;
  • what kind of IP protection to pursue and where (and when) to do it; and
  • how to benchmark yourselves against competitors.

How we can help with your strategy

  • Comprehensively audit and review what IP assets you own and/or should own but perhaps don’t.
  • Work with you to develop a clear strategy for those intellectual assets you want to protect and allocate associated transparent budgets.
  • Develop a protection plan for all of the locations in which you trade and develop an international intellectual property protection plan.
  • Understand the associated costs with international protection and align them with financial and commercial forecasts.

How we can help

Whilst based in the South of England, Paris Smith acts for businesses and families throughout the UK. Technology has enabled us to provide a high level of service to our clients whether they are local to our offices or not. Our advice can be given in many ways:

  • Over the telephone
  • Via video conferencing
  • In face to face meetings

We will talk through how you would like to be contacted and the best ways for us to meet in our early conversations with you.

Meet the team

You can find contact details for the IT Strategy & Audit team below.

Introducing your key contact

Laura Trapnell
Partner – Head of Commercial and Intellectual Property

Contact

KEY CONTACTS

How we’ve helped our clients

“We needed a lawyer to review and protect potential sources of IP in existing products, in addition, raising awareness within the R&D team to identify and highlight potential IP when developing new products. Laura Trapnell and the team at Paris Smith resolved this by conducting a comprehensive IP audit of our products, which also highlighted R&D process improvements, to help identify and capture potential future sources of IP. The approach was well structured, straightforward and pragmatic, which suited our business as an SME well. A very valuable and worthwhile exercise. ”

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