At an early stage in discussion with companies it may be advisable for both parties to sign a Non-Disclosure Agreement or NDA. Sometime also called CDAs such agreements are commitment to keep secret any information disclosed during discussions. RED staff can advise on the necessity or otherwise of NDAs in particular circumstances and can provide appropriate documents. If a company offers its own NDA, RED staff will review the text before it is signed. RED keeps copies of all signed NDAs.
Before licences are granted the terms need to be negotiated, possibly in conjunction with agreements whereby the University undertakes further work under contract. In establishing working relationships with commercial partners we will seek to achieve a number of objectives:
Regarding the licence element, royalty payments may take the form of regular amounts based on sales or be one or more lump sums.