What is Due Diligence?
Due diligence is a thorough process that consists of taking a deep dive into a topic in order to get a grasp of its present situation, its future prospects, and the unique aspects of your operation. This process enables us to get a firm grasp of your business or organization, your overall objectives, and who/what you stand for as a business.
In order to properly provide legal services regarding intellectual property, it is essential to perform proper scrutiny and due diligence of your business and your industry prior to taking action or providing consulting.
The due diligence process is a cornerstone of METROLEX IP’s foundational intellectual property services that we offer to our clients. We understand the process and how they can differ throughout many industries and are prepared to help and provide personalized legal services and make the most of our client’s IP portfolios.
The Due Diligence Process
The due diligence process itself consists of a few steps that help our team cultivate a deep understanding of your operations, objectives, history, and, as a result, your legal needs. The process consists of the following:
Standard Checklist Review
To begin, we conduct a review of the basic data points surrounding your business. This includes financial data, product descriptions, and a business structure review in order to get a better understanding of who you are, what you do, and what the specific details of your product and/or services consist of.
The next step in the process is to review the important documents that your company has set up. This could be any existing intellectual property documents or planned documents that you need to be finalized as well as related pieces in this domain such as financials and projections.
We then conduct a thorough review of your operations and business structure in order to get an idea of how your products work and what legal requirements or assistance you may need.
The industry review helps us to understand the nature of your industry and any competitors that are related to the intellectual property that you own and operate with. This process enables us to be able to tailor your intellectual property strategy accordingly and ensure comprehensive protections and strategic, intelligent decision making.
Based on the findings of our comprehensive due diligence review, our team can offer personally tailored strategic recommendations that can aid you in your ability to engage in intelligent decision-making. Trademarks, copyrights, and other aspects are handled in the way that best suits your unique situation.
Using Due Diligence To Maximize Intellectual Property Utilization
Our team uses due diligence as a key piece of our process that helps us learn about your organization and your intellectual property on a deeper level. This is a crucial part of the process that enables us to offer our expertise to you while personalizing the services you receive.