Diligence
Live
PE diligence: checking the target’s PTAB and ITC profile before signing.
PE deal team · mid-market growth fund · semiconductor acquisition
The question
“What is the target’s patent prosecution profile, PTAB challenge history, and ITC §337 involvement over the last five years — and how does its outside counsel compare to peer firms?”
What LexDana showed
Target had received 6 IPR petitions in five years (three instituted, two reaching FWD with unpatentable findings). Respondent in one ITC §337 investigation (settled). Its primary prosecution counsel ranked in the bottom quartile for allowance rate in the target’s main art units, with pendency 23% above the industry median.
The decision
Valuation adjusted down based on PTAB exposure and the prosecution-counsel underperformance. Post-close, outside counsel was transitioned to a top-quartile firm using the rankings. Deal closed at the adjusted price.
PTAB analytics
ITC analytics
Patent prosecution analytics
Rankings
Portfolio
Live
A biotech IP director found a buried prosecution problem before the budget meeting.
IP Director · mid-cap biotech · pre-budget portfolio audit
The question
“Pendency, office action count, RCEs, and allowance rate for all our applications — broken down by tech area and outside counsel.”
What LexDana showed
Pendency was 18% longer in one tech area than the company average. One outside counsel had a 2.0× higher RCE rate than the others on overlapping subject matter — with no offsetting allowance-rate advantage.
The decision
Budget reallocated. Counsel work consolidated. Findings presented to the GC and CFO with cited data. Quarterly LexDana review now part of the IP team’s operating rhythm.
Patent prosecution analytics
Portfolio audit
In-house IP