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Episode 3 of our patent licensing podcast from Meeting Room 7 focuses on payment terms and the common pitfalls. Charlotte Tillett, head of Stevens & Bolton’s life sciences group, is joined by associates Tom Collins and Kate Maguire to discuss the key considerations for both licensors and licensees when drafting payment terms in a patent licence agreement. The episode includes:
- Typical approaches to structuring royalty, milestone and annual lump-sum payments
- Common areas for negotiation including royalty stacking, audit rights and intra-group sales
- Different types of discounts and special deals often seen within licence agreements – and drafting pitfalls to avoid
- The importance for both parties of clearly defining terms such as 'licensed product’, ‘net sales’ and ‘valid claim’