Helping others acquire, license or invest in patents with confidence - A guide for patent searchers to patent due diligence

Investors are becoming increasingly savvy in this knowledge economy. A noticeable trend has emerged within the patenting arena in which those seeking to acquire, license or invest in patented technology are asking more focused and detailed questions in order to assess whether commitment is warranted. Being satiated with superficial or incomplete information or having lax attitudes towards patent portfolio appropriation are becoming a distant memory, as more realize that by thoroughly scrutinizing patent rights before purchase, the exposure to infringement risks or the risk of purchasing a "lemon" can be mitigated. Scrutinizing a patent portfolio to determine if it is a worthwhile investment involves conducting patent due diligence. Different types of patent searches are required at each of the four steps of due diligence and these include patent family searching, patent status searching, patent validity searching and patent infringement searching. A practical guide to each as well as their interrelationship is presented herein, as these types of searches pave the way towards identifying both the strengths and weaknesses of a patent portfolio.