New technological advancement is critical with the increase of global competition. Companies in different industries are pouring billions of dollars into new research and development (R&D) agreements. But, in this R&D market, disputes over R&D agreements are not uncommon and can be extremely costly for companies. Such disputes can be complicated because the parties to R&D agreements fail to fully consider important rights or foresee critical risks in their agreements. This article provides an overview of important clauses to be considered for development agreements and highlights certain risks that need to be taken into account in an attempt to decrease litigation exposure.
IP Ownership and Licensing Rights and Obligations
The most basic issue is to ensure that intellectual property (IP) is protected, including during the early negotiation stages of the parties’ relationship. But this issue can be neglected, especially when scientists begin sharing their ideas without conferring with counsel.
