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Intellectual Property Auditing: A Road to Riches

As intellectual property (IP) and other intangible assets assume an increasingly important role in the value of an enterprise, there has been a corresponding increase on the focus of how such assets are accounted for and reported in financial statements, and the degree of understanding and scrutiny that company boards and directors need to exercise regarding them. However, businesses often do not know what IP assets they own, let alone being able to exploit, value and account for them. In this paper, Sharyn Ch’ang and Marina Yastreboff outline their approach to the identification and protection of IP through the new discipline of IP auditing.