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A discussion is provided of the reduction of patent risk through due diligence. Because intellectual property (IP) assets can have a substantial affect on forecast cash flow, product development, and income, any party obtaining an interest in IP rights (either by license, strategic alliance, investment, or acquisition) should conduct a due diligence analysis to ensure that the technology underlying the transaction in fact has its purported value and is property protected. The goal of a due diligence analysis is assessment of potential risks and advantages related to the transaction, including identification of risks that could reduce the value of the technology and also development of strategies for eliminating such risks. The analysis has to confirm that a purported technology owner really owns the IP rights, has the rights to transfer, can use the technology without interfering with third party IP rights, and has obtained valid and enforceable IP rights. Among topics covered are the role of the U.S. Patent Office (USPTO), common problems with inventor assignments, important license agreement clauses, freedom to operate, determination of IP protection strength, and risk reduction.
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Information Sources, Inc.
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