Get a Legal Physical for Intangible Assets

The Word 'AUDIT' sends shivers through the spines of most emerging business owners.

Why would anyone choose to be audited?

The answer lies in the importance of intellectual property, or IP, in the digital age. In today's information economy, companies transact more business in the virtual world. Before the advent of the Internet, 80 percent of the assets of the typical company were tangible, such as buildings and equipment. Today, approximately 80 percent of the value of the companies listed on the Fortune 500 is intellectual capital. However, intellectual property rights are not reserved solely for companies developing sophisticated new technologies. Intellectual property permeates some core aspect of virtually every business.