Intellectual property is critical to every business and is the most important asset of many businesses. It remains challenging, however, to deal safely and successfully with all of the IP that may be implicated in business transactions — from sales of a few assets, through tax-driven reorganizations, to sales of entire businesses. Patents may not move; IP licenses (such as software licenses) may not survive a reorganization; trademark rights may be tarnished or lost; IP enforcement rights can be impaired.