BMO-CIAR assists CUE members in drafting, negotiating and executing applied research agreements. Based on the needs of the collaboration for applied research, BMO-CIAR will identify relevant agreement templates, work on developing a term sheet to build mutually agreeable terms of the agreement. This term sheet will then be converted to legally binding agreement.
The most common terms of an Agreement include:
- The Effective Date;
- The Term or “duration” of the Agreement;
- The Scope;
- The Confidentiality terms;
- The Parties;
- Any Warranties or Representations;
- The Consideration (ie. “What are you giving in return for the right to use the innovation”);
- Grant-back Rights (ie. Rights to use invention for educational and basic research purposes);
- Lack of Compliance – rights and damages;
- IP rights.
If you would like further information, please contact Dr. Isha Katyal at email@example.com.