IP portfolio audits: Conquering the odds

For an organisation to realise the greatest benefit from its patent portfolio, the portfolio needs to evolve in tandem with the business that owns it, adjusting and adapting to industry developments, emerging technologies, and business areas of focus and growth. To maximise the return on investment of a portfolio, it should be monitored regularly to ensure a continued match with business objectives, effective coverage in desired areas, and to identify and take action on low-value patents to minimise maintenance costs.

A portfolio audit helps establish the criteria by which an organisation can ensure that its current assets align well with its overall goals.

Patent portfolio audits can focus on achieving any or all of the following goals