The technology has a central role when it comes to a technology based company. The technology based companies rely heavily on monopolistic rights, through Patents. Patents are techno-legal documents, presenting an invention in a legal format. Although, filing patents is very important for protecting an invention, but before investing or building around a technology proper due diligence should be performed.
A technology due diligence provides the viability of an invention and also indicate the major areas of research, major assignee, gap in a technology, prior art, freedom to operate, non-obviousness etc. The technology due diligence ensures that investment in establishing the concept and development is not futile. Further, it also provides a clear indication whether use of technology has the requisite freedom to operate or can it be challenged in court after grant.
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