Identifying rights

The first stage in due diligence is typically a standard set of questions or a questionnaire. If you are buying or investing, you will issue this to the seller or other party; if you are selling, it will land on your doorstep or arrive in your inbox.

Sections that address IP rights may include:

• Contracts and Arrangements - R&D and technology agreements, licensing agreements, merchandising agreements, etc.;
• Intellectual Property Rights - schedules of patents, trade marks, registered designs, copyrights and unregistered design rights;
• Trade Secrets - a manual or other document detailing the procedures for maintaining the secrecy of trade secrets; descriptions of proprietary processes;
• Communications to or from third parties relating to the validity or infringement of any patents, registered designs, technology, trade secrets, trade marks, trade dress, and copyrights;
• Studies or reports relating to the validity or value of IP rights;
• Assignments of IP rights
• Employee invention assignment agreements, copyright assignment agreements, work-for-hire agreements and compensation arrangements to employees for invention or copyright assignment.