The granting of a right to sublicensing to third parties also involves a number of important decisions that must be taken into account by the parties when awarding this part of the licence. Sublicensings can be anyone or be limited to . B only parties related to the licensee; only companies linked to the licensee; only a certain number of third parties; or only those parties who have received prior authorization from the licensee. This section deals with the field, territory, rights of the previous licensee and commercial rights retained by the licensee. Some of what is included in this section appears in section 1 (parts) and may not be necessary in all situations. Maintain confidence for the specified time. Unrestricted to time______; Living funds ofagreement______ royalties on the basis of a measure related to the sales of a product should be paid to the licensee by a report indicating the calculation of royalties. It is necessary to decide how often and when these reports (and copyrights) are due. In addition, the licensee`s right to verify the books generated by these reports should be part of the license. This license checklist is a comprehensive tool that is useful for capturing very important concepts and terms in a complex license.
Nevertheless, the checklist can and should be modified by each institution to reflect the way it does business. If the negotiator and licensee have turnkey concepts with a quick reading of a checklist, this can avoid a lot of aggravation and potential misery if an agreement goes wrong during his or her life. It is much more economical to create a solid license in advance, with keywords defined as clearly as possible, than to resolve the problem through arbitrations or litigation later. Equity: licensee (specify) existing _____________________________stock company______; the new company______value of the shares is the market value – at the time of the agreement_______book value______ according to the calendar – the stock has rights______ the full vote; nonvoting______; A checklist that contributes to the negotiation of a licensing agreement, let alone the preparation and establishment of the agreement itself, may seem like a simplified instrument for an experienced negotiator or contract lawyer. After all, most people in such positions are well trained and accustomed to dealing with several projects that have a lot of detail in the scientific, legal and commercial arena at the same time. If they did not have the jurisdiction to handle this type of work situation, they would not last long in a high-pressure licensing environment. But it is precisely because of the innumerable details that a checklist for the licensee or lawyer who works can save lives (or dealer). Since most of the people involved in deal-making participate in multiple deals at the same time, important aspects can be forgotten or forgotten at any time and for each deal.
One of the simplest ways to ensure that a decisive or costly error does not occur because of an error is to use a tool like the checklist presented here.