Patent Audit

 

A patent audit will help you identify, organise, and assess the value and relevance of your existing patents and intellectual property assets. It enables you to uncover unused or underprotected innovations, reduce legal and financial risks, and strengthen your overall IP strategy for better commercial and competitive advantage.
A patent audit is a comprehensive assessment of a company’s patents, patent applications, and associated IP processes to verify their legal standing, commercial relevance, and strategic fit.

 

It involves reviewing patents registered with the UK Intellectual Property Office (UKIPO), European Patent Office (EPO) designations effective in the UK, or international filings under the World Intellectual Property Organisation (WIPO).

Purpose

 

✓   Asset Valuation: Determine the financial and strategic value of patents, supporting mergers, acquisitions, or investment rounds.

 

✓   Risk Mitigation: Identify lapsed, unenforceable, or infringing patents to avoid legal disputes under the Patents Act 1977.

 

✓    Cost Optimisation: Highlight redundant or low-value patents to reduce maintenance fees, which escalate annually after year four in the UK.

 

✓   Strategic Alignment: Ensure patents support business goals, such as market expansion or R&D funding applications (e.g., Innovate UK grants).

 

✓   Compliance Check: Verify adherence to UK IP regulations and tax incentives, like the Patent Box or R&D tax relief

 

✓   Competitive Advantage: Identify gaps or opportunities for new patents, licensing, or enforcement against competitors.

 

 

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Types of Patent Audits

Full Audit: Comprehensive review of all patents, applications, and IP processes, ideal for major transactions or strategic overhauls.

Focused Audit: Targets specific patents or technologies, e.g., for a new product launch or litigation preparation.

Due Diligence Audit

Conducted during mergers, acquisitions, or investments to assess IP assets’ value and risks.

Maintenance Audit

Reviews ongoing costs and renewal status to optimise portfolio management.

Our customers say…

We had just been successful in obtaining a patent on our core product range; it was therefore important that we found a company that could offer an effective Patent Box service. This was the initial reason that convinced us to give ABGi a try. It was a new opportunity that we could not afford to miss. The impact of Patent Box will be highly significant for us, and our company is very happy with the service we have received so far.

 

Nigel Brunning, Director
Bucher Municipal

We chose to work with ABGi because their scientific experts are able to understand the essence of our R&D work, capture it accurately and present it appropriately for HMRC R&D Tax Credit Offices. There is absolutely no way an accountancy firm could have grappled with our highly innovative science. They have been our R&D tax credits advisors for the past 10 years and through their seamless, effective and transparent service, they have become an integral part of our own team.

 

Angela Mathis, Chief Executive

ThinkTank Maths Limited

Like with many companies, we are constantly busy and at the start of our journey with ABGI, we weren’t sure if the effort would be worth the benefit. Luckily this wasn’t a feeling that lasted for long, as it was surprisingly straightforward and not as much paperwork as first expected.  We were totally stunned at the amount claimed, we really couldn’t believe it. The tax benefit has since allowed us to reinvest the money, buy new machinery and hire 2 new people.

 

Rod Wah, Managing Director
Beverston Engineering

Let’s get started

 

For a free consultation and analysis of the potential returns you might expect from your projects, contact the ABGi Team.

 

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