A. Ascertain Background Information Regarding Company and Deal
ii. What kind of transaction is being contemplated?
iii. Public Company?
v. Managing Client Expectations
B. Reviewing Target’s IP Portfolio
i. Registered IP – What are preferred search methods? Remember to search Target and its subsidiaries.
ii. Unregistered IP/Common Law Rights
iii. Concerns regarding high-volume and/or time-sensitive diligence
iv. Identify liens and security interests
vi. Litigation and Inter Partes Disputes
C. Supplemental Request to Target
i. Missing documents, exhibits, etc.
ii. Note any approaching deadlines, and verify that Target will be addressing them.
D. Drafting the Diligence Memorandum
i. Common law rights for unregistered IP.
ii. Upcoming deadlines- how far should you reach? 6 months? 1 year? 2 years?
iii. Chain of title issues
iv. Cite those agreements with change of control issues, and note whether consent is needed for license rights to continue post-closing.
E. Post-Signing Considerations
i. Assignment of IP-U.S. and Foreign Considerations
ii. Updating chain of title
iii. Transition Services Agreement
iv. License back of certain IP