Marks & Clerk

This licence of intellectual property (IP) rights contains standard provisions and has been drafted in favour of the licensee. The licence is drafted on the basis that the licensed IP rights are set out in a schedule, which is sets out details of the various rights, including patents, trade marks, designs, copyright works and databases. The schedule can be amended, depending on the IP rights to be licensed, and the nature of the products in respect of which they are to be used.

This licence of intellectual property (IP) rights contains standard provisions and has been drafted in favour of the licensor. The licence is drafted on the basis that the licensed IP rights are set out in a schedule, which is sets out details of the various rights, including patents, trade marks, designs, copyright works and databases. The schedule can be amended, depending on the IP rights to be licensed, and the nature of the products in respect of which they are to be used.

This Precedent is a form of IP due diligence questionnaire. It sets out example questions which a buyer may wish to ask a seller about the IP that is owned and/or used by the target company or business. These questions would typically be contained within a broader legal due diligence questionnaire relating to a share or asset purchase. Legal due diligence questionnaires are prepared by the buyer and its advisers and sent to the seller (or its advisers) so as to initiate the due diligence process, by which the buyer investigates the target company or business and identifies any potential areas of concern prior to entering into the purchase agreement.

This Precedent is an intellectual property (IP) evaluation and licence option agreement drafted from the perspective of the potential licensee. It contains provisions for the owner of IP rights to grant a potential licensee the opportunity to review those IP rights, including any patents and related know-how (defined as ‘Technology IP’ in the Precedent) so that the potential licensee can decide whether to commence formal licence negotiations under the option provisions. If negotiations commence, the parties may or may not proceed to finalising and executing the licence. Although patents are specifically alluded to, this Precedent can be used when any type of IP is the subject of the option.

This Precedent is an intellectual property (IP) evaluation and licence option agreement drafted from the perspective of the potential licensor. It contains provisions for the owner of IP rights to grant a potential licensee the opportunity to review those IP rights, including any patents and related know-how (defined as ‘Technology IP’ in the Precedent) so that the potential licensee can decide whether to commence formal licence negotiations under the option provisions. If negotiations commence, the parties may or may not proceed to finalising and executing the licence. Although patents are specifically alluded to, this Precedent can be used when any type of IP is the subject of the option.