Legal Assistance For Research & Development Projects
Research and development are key parts of innovation and will often require collaboration between a number of parties to achieve such innovation. As a result, there will often be a need to enter into a series of agreements, depending on factors such as the stage at which the collaboration is happening and the nature of the parties involved. More business services from Tinsdills include:
Helpful Guidance Throughout The Project
In order to protect the interest of the parties involved in any research and development project, it is advisable to enter into a specific agreement for such research and development which will regulate the obligations and responsibility of the parties. It may be that more than one agreement is necessary, depending on what stage the development is in, and these agreements may involve matters such as: how to set up the project between the parties; how to ensure that development stays within an appropriate schedule and within budget; any milestones for results; and what happens at the manufacturing stage of the research and development project.
One area of particular importance with any research and development project is likely to be the need to regulate ownership and transfer of any intellectual property rights or of other rights not attached to traditional IP (such as know-how and confidential information). Each party is likely to bring its own intellectual property and know-how to a project and new intellectual property may be created as a result of it. Understanding and regulating the background and foreground intellectual property is crucial in avoiding later disputes as to ownership, particularly at the stage of commercialising any research and development results.
At Tinsdills, we have a specialist team of business law solicitors who have expert knowledge and experience of the legal and commercial issues involved in research and development. We can assist with all aspects of your project, from the creation of any joint venture to the manufacture of products. resulting from your research and development project.
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