Review company’s policies with respect to the enforcement of its IP rights as well as its own systems for respecting the legal rights of others.
The IP audit may provide information as to assets that the company thinks it owns but in reality it does not and could give rise to problems of third party infringement.
A carefully conducted audit may result in a determination that the company’s use of its IP violates the rights of a third party.
It is better to learn of this and have brought it to the attention of upper management than be sued without warning.
Advance warning of infringement allows the company to cease infringing activities, obtain a license or at the least, evaluate its liabilities and defenses.