Owned by private equity giant Cinven, Jersey-based CPA Global is expected to fetch bids from sovereign wealth funds and Chinese giants.
City A.M. understands that owners of CPA Global are looking at options for the business including a sale or a float.
US buyout firm KKR is also in the running to buy the patents adviser, according to the Sunday Times.
Banks have been invited to pitch and submit proposals for advising on the sale.
Set up in 1969, CPA Global was snapped up by Cinven in 2012 in a £950m deal. Since then CPA has acquired four businesses, including Silicon Valley-based developer of IP electronic document management systems First To File in 2013, IP service provider Patrafee and international search brand Landon IP in 2014, and information and analytics company Innography in 2015.
CPA has 2,000 employees across 25 offices across 12 countries.
CPA Global, Cinven and KKR could not be reached for comment.