doi: 10.5195/tlp.2004.10

Drafting Intellectual Property Joint Venture Agreements with an Eye Toward Termination

Jackie Taylor

Abstract


When joint venture ("JV") parents come together with a business idea, they expect to develop the resulting intellectual property ("IP") to the benefit of all parents. The joint venture agreement ("JVA") is crucial to the formation and operation of the IP JV. Careful drafting will account for the parties’ expectations regarding the parents’ and the JV’s IP. However, the parties should realize that the JVA is also crucial to the termination of the JV. The JV parents must accept the reality that all JVs must come to an end, and some JVs will come to an end sooner than one of the parties might have wished. Therefore, parties to the JVA should devise a plan for termination in advance.


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