In an article published in Life Science Leader‘s January issue, Partner and Chair, Biotechnology & Life Sciences Eric M. Brusca, Ph.D. discusses intellectual property (IP) due diligence for life sciences companies. During a due diligence project, sorting out a company’s IP portfolio and freedom-to-operate status are the most time-consuming parts.
“Initially, the parties involved in the potential transaction must identify the relevant products, methods, or services and establish whether the existing IP covers those products or services,” Brusca explains. “Once a comprehensive list of IP assets has been established, IP counsel may begin digging deeper into the IP portfolio. Among the unique considerations in the pharmaceutical and biotech world, the life cycle of a product is often considered.”
When considering a merger or acquisition, buying, selling and/or licensing intellectual property, there are a number of questions that must be considered before moving forward. These questions include whether the company owns or licenses the IP rights to make, use or sell products and if the company is aware of information that could result in the invalidity of a patent.