Track E

E2 David and Goliath: The Importance and Interpretation of Diligence Provisions in Licenses with Big and Small Companies

Track: Licensing Successful Practices

Target Audience: All Audiences

Tari Suprapto, The Salk Institute for Biological Studies

Abhijit Afzalpurkar, Ph.D., M.B.A., CLP, Thermo Fisher Scientific
Mark Benedyk, Ph.D., Telephus Medical LLC
Christopher Noble, CLP, RTTP, Massachusetts Institute of Technology

Many license agreements include diligence provisions but why are they there? Why are they important to the academic licensor? What do they look like depending on the potential licensee? How does your commercial partner view diligence if they are a large established company, a startup or university spinout company? How do you establish diligence terms for a startup company that has not yet defined its business plan? Will you be able to come to agreement on diligence, and if so, how? Assuming the license is then signed, how will the licensor and licensee ensure diligence is performed in compliance with the agreement? Join this session to get the answers to these and other questions. This session will examine the issues of diligence pre- and post-execution of the license from the perspective of academic licensors and licensees from both large and small corporations.

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