Due Diligence Request List: IP & IT

This legal template, titled "Due Diligence Request List: IP & IT under USA law," is a comprehensive document outlining the information and documentation required for conducting due diligence in the realm of intellectual property (IP) and information technology (IT) under the jurisdiction of United States law.

Due diligence is a crucial process undertaken prior to legal transactions such as mergers and acquisitions, financing agreements, or business partnerships. In the context of IP and IT, due diligence aims to assess the legal, financial, and operational aspects of a company's intellectual property assets and technology infrastructure.

This template provides a standardized checklist of inquiries and requests pertaining to IP and IT matters. It covers a wide range of subjects including patents, trademarks, copyrights, trade secrets, software licenses, data security, privacy policies, IT contracts, and compliance with relevant laws and regulations. By utilizing this template, lawyers, legal professionals, or parties involved in a transaction can ensure that they obtain all the necessary information for an accurate assessment of the IP and IT assets as well as potential risks and liabilities associated with them.

The template typically consists of sections and subsections, each addressing specific areas of concern. For instance, within the IP section, it may include sections on the registration status of patents and trademarks, contractual agreements governing licensing or transfers, infringement claims, ongoing litigation, or international IP protection. Similarly, the IT section may cover details regarding hardware and software systems, vendor contracts, software development agreements, data protection measures, cybersecurity protocols, or compliance with data privacy laws such as the GDPR or the CCPA.

The purpose of this template is to streamline the due diligence process by providing a comprehensive and structured framework for gathering crucial information related to IP and IT. It ensures that the acquiring party or interested stakeholders have a comprehensive understanding of the strengths, weaknesses, and potential legal issues associated with a company's IP and IT assets. Consequently, it enables informed decision-making, risk mitigation, and appropriate negotiation of terms and conditions during transactions or partnerships where IP and IT are pivotal.