Commercial Contracts and Protecting Ideas
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Commercial Contracts and Protecting Ideas

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Protecting ideas is not always easy for innovators and entrepreneurs. In this presentation Alex Chester of BrightLaw gives a basic background into what type of contracts are needed and when to use ...

Protecting ideas is not always easy for innovators and entrepreneurs. In this presentation Alex Chester of BrightLaw gives a basic background into what type of contracts are needed and when to use them.

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    Commercial Contracts and Protecting Ideas Commercial Contracts and Protecting Ideas Presentation Transcript

    • 'Protecting your idea - the essential guide for innovators and entrepreneurs'
      Commercial Contracts
      Alex Chester, Director
      BrightLaw Limited
      © Brightlaw 2009. Brightlaw Limited| Registered in England | Registered number: 6952542
    • The Bright Idea
      Is it unique?
      research whether anything similar
      does it use Rights belonging to anyone else?
      Is it just your idea?
      joint authorship?
      started with someone else?
      © Brightlaw 2009. Brightlaw Limited| Registered in England | Registered number: 6952542
    • Bringing the Idea to Market
      Can you afford to develop it?
      Bank loan?
      Bank security requirements – charge on IPR?
      Business Angel / Venture Capitalist
      Investment Agreement requirements
      Sell your Idea outright?
      lump sum but no income stream
      © Brightlaw 2009. Brightlaw Limited| Registered in England | Registered number: 6952542
    • Bringing the Idea to Market (2)
      Do you need third party assistance?
      Manufacturer / Developer?
      Joint Venture?
      Before disclosing your Idea to anyone:
      Confidentiality / Non-Disclosure Agreement
      © Brightlaw 2009. Brightlaw Limited| Registered in England | Registered number: 6952542
    • Developing the Idea yourself
      Consider all third parties you may involve:
      software / hardware developers
      designers
      Have written contracts with all those parties
      must cover ownership of Intellectual Property
      if IP not transferred you need a suitable Licence
      © Brightlaw 2009. Brightlaw Limited| Registered in England | Registered number: 6952542
    • Developing with a third party
      Licensing your Idea- “The Licence Agreement”
      Third party requirements / wish list:
      will want certain elements of Control
      will want a long contract Term
      Renewal / Extension rights
      Exclusivity
      Restrictive Covenants
      your continued involvement?
      © Brightlaw 2009. Brightlaw Limited| Registered in England | Registered number: 6952542
    • Developing with a third party (2)
      Your requirements / wish list:
      Financial: Initial payment + Royalties?
      Exclusivity? Link to performance?
      Review of product quality
      Audit rights in relation to Royalties
      Limit your Liability / Insurance
      Termination rights, eg linked to quality, sales
      © Brightlaw 2009. Brightlaw Limited| Registered in England | Registered number: 6952542
    • IP issues in the Contract
      You will be required to Warrant your IP ownership and Indemnify the third party
      If you or the third party may develop improvements / additions, the contract must clarify rights in resulting IP
      Who can do what with the IP after Termination?
      © Brightlaw 2009. Brightlaw Limited| Registered in England | Registered number: 6952542
    • Summary:
      Consider at each stage who you may need a contract with
      Clarify your requirements:
      Financial
      retention of Intellectual Property Rights
      Find the right Business Partner!
      © Brightlaw 2009. Brightlaw Limited| Registered in England | Registered number: 6952542
    • Alex ChesterBrightLaw Limited4 Longlands Spinney, Worthing BN14 9NUTel/fax: 03456 522201Mobile: 07888 094992Skype:  brightlawEmail: alex@brightlaw.bizhttp://www.linkedin.com/in/alexchesterbrightlaw.biz
      Please note that the information given in this presentation is for guidance only. It does not represent legal advice and you should not rely on it but should instead take legal advice specific to your circumstances.
      © Brightlaw 2009. Brightlaw Limited| Registered in England | Registered number: 6952542