Collaboration Agreement Checklist
Before collaborating, consider that absent a well-drafted, comprehensive, Collaboration Agreement, your investment will be at substantial risk. Here are some important issues that should be addressed in a well drafted Collaboration Agreement.
- Define important terms used throughout the Agreement.
- Objective of the Agreement.
- Duties, Responsibilities and Expectations of each party.
- Property to be licensed by each party to the other party(ies) for purposes of the Project.
- Limitations as to use of disclosed information and licensed property.
- Grant right to licensee to sublicense rights or prohibit sublicensing rights.
- Ownership of new developments arising out the Project.
- Allocation of responsibility and process for prosecution of patents for new developments.
- Allocation of responsibility and process in event of infringement of patents by third parties.
- Allocation of responsibility and process in event of infringement of third party patents.
- Patent marking requirements for new developments and licensed property.
- Mutual indemnity and liability limitations.
- Confidentiality Agreement.
- Address required treatment of Trade Secrets, to comply with laws pertaining to trade secret protection.
- Termination provisions; post-termination obligations.
- Governing Law and Jurisdiction.
- Representations and Warranties that each party is relying upon when entering the Collaboration Agreement.
- And other important clauses and provisions.
To discuss your Collaboration Agreement issues and concerns, contact Michelle Grenier, Esq. directly:
Via E-mail: Michelle@ContactMyLawyer.com
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