Many business partnerships with overseas corporations involve various types of intellectual property. These can include patents, trademarks, brand-names, and copyrighted materials.
Agreements which lay down the rules for these types of intellectual property should meet the following basic conditions.
1) Wording should be simple and concise
2) The objective of (reason for) the contract should be clear
3) The term (period) and territory (geographical area) should be clear
4) There should be no inconsistencies or contradictions in the calculation of royalties
5) No conditions that put your company at a disadvantage
6) Should be fair to all parties
7) A competent court (jurisdiction) should not be disadvantageous to your company
8) You should be able to terminate the agreement when you feel it necessary
9) You should not be at unfair disadvantage if the agreement is terminated
We can help you ensure that you are happy with the terms of the agreement before you enter into it.