Minneapolis patent attorney Mark Stignani describes the number of things a company should understand at the end of an IP audit.
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So what type of relationship should you be in full understanding of at the end of an IP audit? The number of things that you should understand is really the state of where your portfolio is, where it sits in relationship to what you currently are selling, what you’re going to sell in the future, and then what you should let go and release and bring money back into the front end of the process. At the end of the IP audit you should also understand what things you need to fix to keep assets in good healthy order. You should also understand what assets you need to acquire to fill the gaps and do the holes. And you should also understand what IP to modify, to either go more broadly or more – you know, to discover more relevance in their registration as it relates to your private line.