In this episode, Robert and Toby discuss the importance of IP in every deal, not only in terms of legal and financial ownership, but also in terms of quality, capability and IP protection.In the highlighted case study pertaining to the software industry, the IP turned out to be vapourware and rendered the deal worthless.Important reading for anyone making acquisitions where IP forms the foundation of the value and important lessons that it's important to dive under the covers and get right down to the detail.