We work with our clients to identify the intellectual assets of a business. There are two broad categories of intellectual assets: firstly, well-defined IP such as patents and trade marks; and secondly, less distinct intellectual assets such as know-how. It is good business practice to review and evaluate all processes relating to the management of IA. An IA audit should identify what intangible assets are owned by a business and precisely how important they are. An internal process can be established for sorting, ranking and qualitative valuation of an IA portfolio.