The start of a new year is a natural time to audit your company's brand assets to make sure they are being appropriately used and protected. These audits can take different forms, but the core analysis involves a review of the trademarks, trade names, domain names, and related agreements owned by a company; a review of the policies and procedures the company has in place to maintain and support those assets; and an evaluation of the relative value of the various assets to the company.
In light of recent trends in technology confluence and global economic developments, following are the top three considerations in conducting such a start-of-the-year analysis:
All in all, trademark audits can be viewed as a means to enhance the value of a company's intellectual property portfolio and procedures. Conducting a regularly-scheduled trademark audit helps companies understand what value their intellectual property has, how best to maintain or enhance that value, and how to best use IP assets to maintain the bottom line.