My IP Is Not Your IP: Clear Terms Are Key in Joint Development Agreements
Key Points Joint development agreements are a common way to structure collaborative development and growth projects , but they can come with risks, including potential disputes over confidential information and intellectual property ownership. Companies can mitigate these risks through thoughtful and careful drafting that clearly delineates each party’s rights and obligations during the joint development activities. Implementing and maintaining clear policies and procedures internally will also help minimize exposure from the risks associated with these transactions. __________ Provisions and Practices Relating to Confidential Information Protecting a company’s confidential information — and ensuring there is the ability to sort through whose confidential information is whose — is of the utmost importance in a joint development agreement (JDA) . Thus, the language parties use in drafting their agreement and the practices they implement during the relationship can make or break trade se...