Legal Information Notice: This checklist provides general educational information only. It is not legal advice, does not create an attorney-client relationship, and may not apply to your jurisdiction or circumstances. Laws and deadlines vary. Do not rely on this checklist for a specific legal decision or deadline; consult a qualified attorney licensed in the relevant jurisdiction.
- “Intellectual property” is not one legal right.
- Patents, trademarks, copyrights and trade secrets operate differently.
- Ownership should be established before a dispute occurs.
- Employee-created IP can raise ownership issues.
- Contractor-created IP can raise ownership issues.
- Assignments matter.
- Licensing terms matter.
- Geographic rights matter.
- Duration matters.
- Exclusivity matters.
- Confidentiality matters.
- Trade-secret protection depends heavily on maintaining secrecy.
- Public disclosure can affect certain IP strategies.
- Patent rights have specific procedural requirements.
- Trademark rights depend on particular legal circumstances and use/registration.
- Copyright ownership can depend on authorship and agreements.
- International protection requires separate analysis.
- IP searches can reduce risk but cannot guarantee freedom from disputes.
- Enforcement can be expensive.
- Litigation can exceed the value of the underlying asset.
- A registered right does not necessarily mean it is commercially valuable.
- A valuable invention without a business strategy may still produce little economic return.
- Professional fees vary significantly by complexity.
- You should understand exactly which rights the lawyer is protecting.
- The key question is “What asset am I protecting, and what is that protection worth?”
B. PREMIUM BUYER CHECKLIST
IDENTIFY THE ASSET
☐ Patentable invention
☐ Brand/trademark
☐ Copyrighted work
☐ Trade secret
☐ Software
☐ Design
☐ Database/data asset
☐ Know-how
OWNERSHIP
☐ Creator identified
☐ Employer relationship
☐ Contractor agreement
☐ Assignment
☐ Joint ownership
☐ Existing licenses
PROTECTION
☐ Search performed
☐ Registration strategy
☐ Filing strategy
☐ Geographic scope
☐ Confidentiality procedures
☐ Enforcement strategy
COMMERCIALIZATION
☐ Licensing
☐ Assignment
☐ Product development
☐ Franchise
☐ Royalty model
☐ Enforcement
LAWYER
☐ Relevant IP specialization
☐ Relevant technical expertise
☐ Filing experience
☐ Litigation experience if required
☐ Fee structure
☐ Scope of engagement
FINAL QUESTION
Am I paying to obtain a legal right—or am I actually building a commercially valuable intellectual-property asset?
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