Method for auditing intellectual property

• US 20020077942A1
• Filed: 10/11/2001
• Published: 06/20/2002
• Est. Priority Date: 10/13/2000
• Status: Abandoned Application

• Current Assignee: William T. Wilkinson
• Original Assignee: William T. Wilkinson
• Inventors: Wilkinson, William T.
• Application Number:
  US09/975,217
• Publication Number:
  US 20020077942A1
• Time in Patent Office: Days
• US Class Current: 705/30
• CPC Class Codes: G06Q 40/02 Banking, e.g. interest calculation or account maintenance credit or loans G06Q40/03
• CPC Class Codes: G06Q 40/12 Accounting

Abstract

A method for auditing one or more intellectual property assets of an entity. The method comprises the steps of: identifying and classifying each intellectual property asset; inspecting documentation related to each intellectual property asset; determining validity of each intellectual property asset; identifying and verifying relevant financial data for each intellectual property asset; identifying and verifying a proper tangible valuation formula for each intellectual property asset; computing and verifying a tangible valuation for each intellectual property asset using the formula; preparing an income statement reflecting revenue and expenses associated with each intellectual property asset; preparing a balance sheet reflecting each intellectual property asset and corresponding valuation; and issuing an opinion certifying that the one or more intellectual property assets and corresponding tangible values are fairly stated in accordance with generally accepted accounting principles.

Claims

1. A method for auditing one or more intellectual property assets of an entity, the method comprising:

(a) identifying and classifying each intellectual property asset;

(b) inspecting documentation related to each intellectual property asset;

(c) determining validity of each intellectual property asset;

(d) identifying and verifying relevant financial data for each intellectual property asset;

(e) identifying and verifying a proper tangible valuation formula for each intellectual property asset;

(f) computing and verifying a tangible valuation for each intellectual property asset using said formula;

(g) preparing an income statement reflecting revenue and expenses associated with each intellectual property asset;

(h) preparing a balance sheet reflecting each intellectual property asset and corresponding valuation; and

(i) issuing an opinion certifying that the one or more intellectual property assets and corresponding tangible values are fairly stated in accordance with generally accepted accounting principles.