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MenuImportant considerations when entering a joint development agreement with a large materials manufacturer?
Hi! My nanotech company has a lot of interest from large materials manufacturers. We are just now beginning to explore potential joint development arrangements. I was wondering if anyone in the community has any thoughts about how to structure for such an arrangement. I recognize this is certainly context-specific and vague, just looking for any general important lessons learned from anyone else who has jointly developed material technology with a large corp (e.g. 3M). Thanks!
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Hi - so happy to hear your company is growing so well in a very advanced field. From my experience please consider the following. (I can email you additional things but here are key concepts)
1. Intellectual Property
Is your "old" IP properly protected as you enter the JV? Now what happens to the new IP, is it shared?
2. Brand
Do you maintain control of your brand in the JV? What is the branding of the new JV?
3. Scope of Work
You must always have a proper scope of work defined in a JV, otherwise it opens up possible issues for you and the other party when one party deviates
4. Dissolution of JV
How do you get out of a JV if you want to? Is it automatic triggers, is there an exit clause?
Hope this helps!
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