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In case someone else comes across this. A motivation for why the second condition above is needed is of course given by considering the map $x \rightarrow e^{x}$. Obviously the derivative never vanishes, but $e^{x} = a$ has no solution for $a \leq 0$.
Why do you think they are purely local? The second condition, that the norm of f tends to infinity, does not appear in the usual inverse function theorem
Thanks for that! I'll check out the book. It looks as if the Matlab function "symbfact" does precisely the required symbolic factorization in a safe way.