India – IP Due Diligence Checklist For Startup Investment Readiness. Therefore, for any startup, the common first step in IP due diligence is to identify not only the IP that the startup has registered, but also the IP it actually uses in its business. Ownership and Pre-Incorporation IPA common problem faced by startups in IP due diligence is establishing the ownership of IP created before incorporation. Patent Checklist for IP Due DiligenceSectors such as information and technology, pharmaceuticals and medical devices, biotechnology, engineering and deep tech rely heavily on patent diligence. Investment DocumentationA key factor that startups often overlook is preparing proper investment documents that clearly reflect the IP diligence findings.