This post is the third in our five-part series, Navigating Life Sciences Transactions, where our team of attorneys provides essential strategies and insights for successful life sciences transactions.

With the SXSW Health and MedTech conference in full swing, it’s a good time to reflect on some fundamental Intellectual Property (IP) strategies that can help safeguard your Life Sciences and MedTech business and maximize its value now and into the future.

IP is often one of the most valuable assets a company can own. Whether you’re preparing to sell a business, enter into a joint venture, or acquire another company, understanding the scope of your IP portfolio is essential. For in-house counsel, founders, corporate executives, and other legal professionals, navigating the complexities of IP ownership and licensing can make or break a deal.

Know What IP You Own—And Be Sure You Own It

First and foremost, take stock of your IP assets and confirm ownership. This includes patents, trademarks, trade secrets, copyrights, and other proprietary assets. It’s not enough to assume that your company owns its IP—ownership must be properly documented (and not all IP assignment language is created equal). For example, if your business relies on software or technology developed by contractors, have you ensured that the work was assigned to your company through written agreements? Similarly, if you’ve acquired IP through a merger or acquisition, is the chain of title clear and complete? 

Ownership clarity is especially critical in high-stakes transactions like company sales or joint ventures. Buyers, investors, and collaborators will scrutinize your IP portfolio as part of their due diligence. Any uncertainty or gaps in ownership could delay or derail a deal—and worse, diminish the value of your business.

Patents Are Key—But Don’t Overlook Other IP

For companies in the Life Sciences and MedTech sectors, patents are often the crown jewels of an IP portfolio. A strong patent portfolio can protect groundbreaking drugs, medical devices, or diagnostic technologies, creating significant value for your business. However, don’t overlook other forms of IP that may be equally valuable.

For instance, trade secrets—such as proprietary manufacturing processes, production methods, or even customer data—can offer a competitive edge. Unlike patents, trade secrets don’t expire, provided they remain confidential. That said, protecting trade secrets requires robust internal policies, non-disclosure agreements, and other safeguards. Pay especially close attention to non-disclosure agreements to ensure that the confidentiality obligations for trade secrets does not expire with the other obligations in the agreement.

Think Ahead When Negotiating IP Licenses

If your business involves licensing IP, it’s critical to think beyond the immediate transaction. Consider how the terms of the license will impact future opportunities, such as sublicensing, forming a joint venture, or selling the company. For example, are you negotiating the ability to sublicense the IP to a third party? Do you have the flexibility to transfer the license to a buyer in the event of an acquisition? Without transferable licenses, you risk losing access to essential IP, which could jeopardize the transaction or your ability to operate

This forward-thinking approach is especially important in industries like Life Sciences and MedTech, where collaboration — often with academic institutions — is common. Licensing agreements often form the backbone of partnerships for product or drug development. Ensuring that these agreements are structured with future transactions in mind can save time, money, and headaches down the road.

Final Thoughts

As innovation continues to drive the Life Sciences and MedTech industries, the importance of IP cannot be overstated. Whether you’re attending SXSW Health and MedTech to explore partnerships or simply seeking to stay ahead of industry trends, now is the time to ensure your IP strategy is rock-solid. By understanding what you own, protecting your IP, and planning for the future, you can position your company for long-term success.