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Tips for assisting a patent attorney in conducting a due diligence are provided. Due diligence is the thorough investigation of assets and liabilities that result in correct estimations of the importance of intellectual property (IP) when valuing a company. The investigation will establish the value of various real or potential intellectual property assets and also the existence and effects of any real or possible liabilities related to the IP. Questions that should be asked when performing a due diligence are highlighted, including those related to ownership, exclusivity, infringement, and validity. Steps required in conduct of a due diligence include identification of all IP involved in the transaction, verification of rights ownership, evaluation of the potential enforceability of the IP, and assessment of the value of the IP portfolio. In identifying IP, all trademarks and service marks inside and outside the U.S. have to be identified, and a review of all registrations, pending applications, unregistered marks in use, and abandoned applications has to be conduced. Identification of patents of interest is important, because the patent may have been granted by another country, and no U.S. patent may have been obtained. A team of inside, outside, and independent sources will be needed for the most comprehensive assessment of the important matters related to IP.
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Information Sources, Inc.
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