Patent, Industrial Design and Trade Mark Portfolio Audit and Compliance Check

BananaIP’s consulting and strategy division offers several services to help clients review their intellectual property portfolios at regular intervals to ensure that all files and registrations are in order. The Firm’s Patent, Industrial Design, and Trade Mark Audit and Compliance Check helps clients review, audit, and verify that all filings and registrations are valid, and that everything required to acquire registration and maintain registrations is being done. After performing a  thorough due diligence and audit of the client’s Patent, Industrial Design and/or Trade Mark portfolio, BananaIP’s attorneys will provide a  report outlining the status of the client’s files and registrations, upcoming actions, subsistent and potential risks, and steps to be taken to comply with statutory timelines and the law. Any issues with file validity or compliance will be outlined with options available to the client to revive, restore, and/or reinstate expired, lapsed, or lost files. The report will also outline important steps to be taken by the client in priority order in order to maintain its files effectively and efficiently.

Why should a company opt for this service?

A  company may opt for this service if it wishes to get a  third party opinion about the status and validity of its patent, trade mark, industrial design and other IP files, and if it is seeking to ensure compliance with the law and statutory timelines. This service helps companies and their attorneys get a third party perspective of their IP portfolios from an independent, unbiased IP expert.

When should a company go for Audit and Compliance Check Services?

A company may perform a portfolio audit and compliance check whenever it wishes to verify status of its files and registrations, and/or whenever it wishes to put its files in order. Audit and Compliance check may also be taken up before or during specific activities such as licensing, merger/acquisition, investment/funding, joint venture formation, and so on. It is also advisable to perform a patent, trade mark, and industrial design audit and compliance check at one/two year intervals to ensure that all files and registrations are in order.