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PLAYBOOK TEMPLATES
Medical Equipment Lease Purchase Agreement
A Medical Equipment Lease & Purchase Agreement governs acquisition or leasing of medical devices and technology. This playbook addresses maintenance, warranties, and ownership transfer terms.
Intellectual Property Rights
Negotiation strategy
Ensure that all background IP remains with the Company and negotiate for exclusive rights to any foreground IP developed. Consider including a clause for sublicensing rights if necessary.
Negotiate for joint ownership of foreground IP or at least a non-exclusive license to use it. Ensure that any background IP remains protected and not transferred.
Essential elements
1
Background IP Ownership
Ownership of pre-existing IP.
2
Foreground IP Licensing
Licensing terms for new IP.
3
Post-Termination Rights
Rights after contract ends.
Action framework
ACCEPT
Propose edits if the scope of licenses is too broad or lacks clarity on exclusivity and duration.
EDIT
Reject if the clause fails to protect background IP or imposes unreasonable restrictions on its use.
ADD
Add language to clarify joint ownership terms or to include a dispute resolution mechanism for IP issues.
PRO TIP
Always align IP clauses with your strategic goals and consider potential future uses of the IP.
Real-world examples
FAVORABLE
Clear Ownership and Licensing
"The Parties agree that all intellectual property rights existing prior to the execution of this Agreement ('Background IP') shall remain the property of the respective Party. Any intellectual property developed during the term of this Agreement ('Foreground IP') shall be owned by [Party A/Party B], with a non-exclusive, royalty-free license granted to the other Party for the duration of the Agreement."
NEUTRAL
Joint Development Clause
"In the event of joint development, the Parties shall jointly own the Foreground IP, with each Party entitled to an equal share of any revenues generated from its commercialization."
UNFAVORABLE
Ambiguous IP Rights
"All intellectual property developed during the term of this Agreement shall be owned by both Parties without clear terms on usage or licensing."
Alternative scenarios & positions
Joint Development Projects
In joint development projects, ensure joint ownership provisions are clear, including decision-making and profit-sharing mechanisms.
High-Risk Projects
For high-risk projects, consider more stringent IP protections and detailed licensing terms to mitigate potential disputes.
Cross-Border Agreements
In cross-border agreements, account for jurisdictional differences in IP laws and ensure compliance with international standards.
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WEEK 2
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WEEK 3
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WEEK 4
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