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  • 1. Intellectual Property in Business Transactions George A. Wowk October, 2004
  • 2.
    • Intellectual property due diligence
    • Transaction documents
    • Post-closing matters
    Introduction
  • 3. Intellectual Property Use in Business
    • “Have you filed any patent applications or trademark applications?”
  • 4. Examples
    • Software licenses contain provisions which restrict their assignability
    • Contract terminates on a change of control
    • Target using unregistered trademarks
  • 5. Intellectual Property Due Diligence
    • The investigation of the assets and liabilities and the business undertaking
    • Understanding of the rights and obligations of the target in relation to its intellectual property
  • 6. Scope of Due Diligence
    • Scope of due diligence
    • Limitations
      • impossible to obtain all the information required
      • endless number of issues that can arise
  • 7. Factors
    • Cost and time of conducting the due diligence
    • Nature of the transaction
    • Nature and value of the intellectual property
    • Nature of the target’s business
    • Intended use of the intellectual property after the transaction
    • Certainty that can be obtained from the due diligence
    • Risk profile of the client
    • The representations, warranties and indemnities that the vendor is prepared to give
  • 8. Intent of the Purchaser
    • Significant bearing on the scope of due diligence
    • Ensure that the terms of the purchase and sale agreement are sufficient for the purchaser’s needs
    • Purchaser obtains the rights to the intellectual property as required
  • 9. Issues
    • Intended uses of intellectual property
    • Intended markets
    • Which products and services
  • 10. Inventory of Intellectual Property
    • Through disclosure
      • disclosure documents
      • discussions
    • Through contract review
    • Through registry search
    • Site investigations
  • 11. Public Record Searches
    • Some intellectual property
      • must be registered
      • can be registered
      • cannot be registered
  • 12. Patents
    • Searches
      • patent number
      • owner
        • target
        • related companies
        • key employee or principal
      • inventors
      • interests recorded against title
      • provincial personal property registry
  • 13. Patent Analysis
    • Claims analysis
      • scope of the claims
    • Validity analysis
    • Infringement analysis
    • Patentability analysis
  • 14. Trademarks
    • Searches
      • trademark
      • Owner
        • target
        • related company
        • predecessor company
      • interests recorded against title
      • provincial personal property registry
  • 15. Trademark Analysis
    • Infringement analysis
    • Registerability review
    • Validity analysis
    • Use review
      • different trademark
      • different wares and services
      • statutory use
    • Section 50 review
      • trademarks properly licensed
  • 16. Copyright
    • Searches
      • title
      • owner
      • security interest
      • author
  • 17. Moral Rights
    • Does the author's moral rights interfere with an intended use of a work
  • 18. Proprietary Information
    • Due to nature of proprietary information it may be difficult to obtain disclosure to conduct due diligence
  • 19. Protection of Proprietary Information
    • Processes in place to protect
    • Infrastructure in place to protect
  • 20. Transfer of the Proprietary Information
    • Disclose it
    • Covenants to not use or disclose
    • Covenants to destroy
    • Will vendor retain any right to use or disclose
  • 21. Domain Names
    • Review registration records
    • Domain names which contain a significant trademark
      • are they registered
      • who owns them
  • 22. Site Investigations
    • Intellectual property management practices
      • identification
      • protection
      • commercialization
    • Infringement mitigation practices
    • Identify intellectual property used by target
      • locate relevant documents
      • review of operations and products and services
  • 23. Contract Review
    • Identify contacts
    • Locate them
    • Review them
  • 24. Types of Contracts
    • Purchases
    • Licenses
    • Joint venture
    • Product development
    • Marketing
    • Manufacturing
    • Distribution
    • Consulting/contractor
    • Employment
  • 25. Considerations
    • Title
    • License rights
      • granted to a third party
      • granted to target by a third party
    • Obligations
      • legal action against infringers
      • indemnification
      • royalty
    • Assignability
    • Change of control
  • 26. Purchase and Sale Agreement
    • Assets or shares being purchased
    • Definitions
    • Purchase price
    • Payment details
    • Closing date
    • Closing details
    • Conditions precedent
    • Representations
    • Warranties
    • Indemnity
  • 27. Representations and Warranties
    • Ownership
    • Sufficiency to the conduct business
    • Encumbrances
    • Third party claims/litigation
    • Infringement of third party rights
    • Registrations in good standing
    • Licenses in good standing
  • 28. Valuation of Intellectual Property
    • Legal entitlements
    • Other factors
    • Use a qualified valuator
  • 29. Post-Closing Matters
    • Recordal of transfer
  • 30. Questions
    • George A. Wowk
    • Burnet, Duckworth & Palmer LLP
    • 403-260-0130