Royalties In Hybrid Licensing Agreements: Careful Drafting Is Critical
Pay close attention to contract language regarding royalties, including when and where patents expire, or pay the price, write experts at Faegre Drinker and Aurobindo Pharma USA.
By Oderah C. Nwaeze and Amy Farris Wolfe
Royalty-bearing license agreements are a cornerstone of commercialization in the life sciences and technology industries.
Companies often use them to expand their business into new markets while generally avoiding the exorbitant financial commitments (and risk) required to research, develop, and launch a new product in a new territory or country.
In the life sciences world, a U.S.-based drug manufacturer that wants to sell its drug in Nigeria could simply out-license its intellectual property to a pharmaceutical company in Lagos, allowing for that company to leverage the patents and pre-existing supply chain to make and sell the product consistent with the laws of Nigeria.
Author summary: Experts discuss royalties in licensing agreements.
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