To view type trust agreements, hardware transfer agreements or research cooperation agreements, please return to our standard agreements site. In addition, agreements on pipelines generally include: obligations: the option agreement must be clearly defined: negotiations. Decide who is responsible for negotiating options. Does this person have the required level of training and qualification? Set a procedure to refer difficult questions to a more specialized advisor (for example. B an in-house lawyer). Check the terms of the other agreement to make sure there is no conflict. Similar options and agreements should never be taken lightly, and negotiations and developments should be clear and comprehensive to fully reflect the intentions and expectations of the parties. The option agreement should be clear with respect to: 7. No-exercise or closing option. If grantee does not exercise its option properly before the expiry of the validity period or does not meet the conditions of the licence and the conclusion of a licence within the permitted time, this option contract expires and the Grantor may maintain the price of the option and has no other obligation to the stock exchange.
A typical pipeline agreement is therefore generally concluded by three parties: sometimes an option agreement is used to allow a third party to assess the technology and its market potential for a limited period before licensing. Sometimes a license makes the start-up ineligible for certain financings, in which case an option agreement is preferred. The Express option model guarantees the start-up that UC will not market the technology to other companies during this evaluation period, but it should be discouraged to sit on a technology that has little movement towards licensing. The terms and conditions are summarized below: Licensed (close) A party that obtains rights under a licensing agreement. As I said, there are many types of options, and many topics that can be addressed by these options, such as stock acquisition, intellectual property, contractual rights and revenue streams. In the context of technology transfer activities and the purpose of the IP option, the key question is whether an option should give the fellow ownership of the intellectual property (i.e. by transfer) or a simple licence, with the property remaining at the university. As a general rule, options are granted exclusively.