Tips for Negotiating a Strategic Partnership Agreement
This article by Robert Singer suggests the following points to protect your valuable intellectual property when negotiating a strategic partnership agreement:
Start with a nondisclosure agreement, which must cover four key points:
a. Exactly what information is to be kept confidential and how it must be handled
b. Time limits and purposes for which this information can be used
c. The process for enforcing the agreement
d. Remedy if a violation occurs...
Keep a detailed chronology and complete notes of your discussions.
Keep a clear record of disclosures made and to whom they were made...
Control the amount of disclosure given to a potential partner...
Be realistic about the value of a strategic relationship...
Be prepared to move quickly if a worst-case scenario materializes...
