When you are buying a business it is necessary to have an IP Audit conducted of the intellectual property that the business has and to determine whether it is properly protected.  

An IP Audit will involve determining if there are any trade marks, designs, patents, domain names registered.  

An IP Audit can also determine whether the business name requirements have been met, confidential information has been properly recorded and whether there is a register of licenses (both in and out licensing).

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