What You Actually Own: Running an IP Audit That Produces Decisions Instead of Spreadsheets
By Casey Scott McKay ·
Most intellectual property audits produce a spreadsheet nobody reads and a bill nobody wants to pay twice, because they inventory assets without answering the questions that would change anything. This article sets out what an audit is actually for and how to run one that produces decisions. It works the four questions worth answering - what exists, who owns it, what is encumbered, and what should be kept - and shows why the ownership question is where audits find real problems. It covers the chain of title failures that recur, the encumbrances that surface only in diligence, the maintenance economics that justify pruning, and the reporting format that makes the findings actionable at board level.
IP and Technology > General IP | Article | Published 4 August 2025 - Updated 15 October 2025 | Casey Scott McKay - marksy.us
Summary. Most intellectual property audits produce a spreadsheet nobody reads and a bill nobody wants to pay twice, because they inventory assets without answering the questions that would change anything. This article sets out what an audit is actually for and how to run one that produces decisions. It works the four questions worth answering — what exists, who owns it, what is encumbered, and what should be kept — and shows why the ownership question is where audits find real problems. It covers the chain of title failures that recur, the encumbrances that surface only in diligence, the maintenance economics that justify pruning, and the reporting format that makes the findings actionable at board level.
Keywords: IP audit · asset inventory · chain of title · employee assignment · work made for hire · contractor ownership · recordation · security interests · encumbrance review · licence obligations · open source compliance · maintenance and renewal · docketing · portfolio pruning · trade secret inventory · domain and social handles · board reporting · IP budget · diligence readiness · valuation inputs
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