This week I’ve been working on an Intellectual Property and know-how transfer agreement for a couple of old clients. They each want free-reign to exploit some technology that they have been developing for a couple of decades.
I’ve warned them that the agreement is really just a memorandum of intent, it will not really be enforceable by either party, it relies on the good faith of both of them, and if there is a falling out, they will not be able to fall back on the agreement, if they have a dispute, I will not be able to act for either of them, and most importantly from my point of view, they should not sue me if things go wrong!
Nevertheless, documenting the arrangement they have will have benefits, so they wish to press ahead.
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