Here is a list of things to think about when licensing your inventions. This is not legal advice or an opinion.
- Pre-contract conditions - what are the facts that lead the parties to contract? Current market sales, forecasts, technology trends, and understandings etc.
- Scope of license - what is being licensed? geographic exclusivity, product exclusivity, profit margin requirements, distribution requirements etc.
- What is being licensed - specifications of the licensed property?
- Timing - how fast should it come to market, how long is the license for, what is the market schedule?
- Options and contingencies - who owns renewal rights (see stewart v. abend ), option to buy, infringement or invalidation of the idea?
- Money - initial fees, type of royalty, amount of royalty, schedule of royalties.
- Advertising - who will pay for advertising and who will coordinate advertising?
- Approval Process - who is in charge of approving product changes.
- Oversight - who keeps records of the financials and product performance, and what triggers an action based on the financials or product performance?
- Quality Control - who does it?
- Insurance - who carries and what is carried?
- Confidentiality - what is considered confidential and how should parties keep it confidential?
- Ending the license - how can it be terminated and what happens when it's all over?
- Disputes - choice of law, jurisdiction, venue, discovery.
- Assignability - can either party assign rights or responsibilities?
- Integration - this is the whole agreement.
- Amendments - how can the contract be amended?
No comments:
Post a Comment