IDEA #80BV2W Standard Agreements

For SME’s and for small or early transactions the legal costs for both parties in negotiating licensing agreements (and also distribution and material transfer agreements) are a significant burden. Most licenses have very similar language with the main variation being the terms that are determined by just a few parameters. These are used as the basis for the SMART IP Transactions module Much of the cost of a transaction agreement is in both parties’ lawyers reading the entire agreement. Ideation has long proposed a standard agreement as a means to greatly reduce this cost as with a standard agreement each lawyer just needs to review the parameters – or with relatively small transactions no lawyers are needed.