A due diligence report template to summarize findings from a legal due diligence review of intellectual property (IP), information technology (IT), and privacy and data security matters in a merger or acquisition (M&A) transaction where a seller's or target's proprietary software or other IT assets or services are a key consideration. It includes model risk disclosures for key issues commonly identified in IP due diligence. This Standard Document has integrated notes with important explanations and drafting tips.