Asset Sales and Intellectual Property – the Buyer’s steps!
13/12/2016 | ACUMEN BUSINESS LAW
There is no business that does not use or create intellectual property, fact! When selling your business your buyer is going to be very interested in your IP even if you haven’t given it much thought. The buyer will be asking questions about your IP, identifying potential issues, evaluating your IP to see the value of the IP to your business and therefore how grave any issues it may find may be. When you are agreeing the asset purchase agreement the IP will need to be defined and the buyer will want protection in the warranties and possibly an indemnity for any issues. Finally in an asset sale an assignment of the IP will always be needed, after all you wouldn’t sell your house without transferring the ownership in that house in the paperwork.