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Head of Agreement Structure
Santiago Santa Serna
Created on November 16, 2022
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Transcript
SANTIAGO SANTA SERNA 212032_54 NOVIEMBRE 2022 Head of agreement structure.
Definition and an example of each concept of the “Head of Agreement document”, according to the selected group
Scope of license: The license must be very clear and specific where all the conditions contained in it are clarified, such as fields of application, territories, exclusivity, considering the different licenses: Exclusive, unique, non-exclusive, OptionalExclusivity: The exclusivity must be very well clarified considering aspects such as the application and use of the technologies, the territories where they will be applied and the duration of the same, which must be reflected in these agreements.
- License options: Before the contract is signed, there may be clauses where some special characteristics are allowed, be it technology, improvements, some additional patents, territories or other conditions agreed between both parties.- Option term on license: When there is a term of the option on the license, an appropriate time must be stipulated to carry out all the procedures of applications on patents or technology, presenting an evaluation report and other actions in time. - Right of first refusal: The license authority can decide to offer a preference to the first applicant and if there is a second applicant, first negotiate with the first applicant and if there is no business, proceed to do so with the second interested party.
It is essential that before signing a contract, each of the clauses and agreements that they will contain be reviewed and defined, these to guarantee and prevent inconveniences from arising in the future due to any condition agreed by any of the parties without having been socialized. between the licensor and licensees. In addition, in this way, a business can be guaranteed with much more structured and solid agreements, which will be maintained over time according to the conditions agreed upon by both parties.
Explanation of why is important the Head of Agreement document in a technology negotiation?