When looking for potential technology transaction options, it is important to clearly define the process up-front, which generally includes:
The drafting of a memorandum that explains the motivations of the technology owner, the expectations, and a brief summary of the key contractual terms
A due diligence process
An NDA that is specifically aimed at these types of transactions
When useful: a draft “testing agreement” under which terms a future licensee is able to test whether the licensed technology fits its needs
The negotiation and execution of a technology transfer or license agreement
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