Joint Inventor Agreements
February 15, 2018

Option Agreement

An option agreement is essentially a contract to make another contract, if certain conditions are met. A licensee who thinks it may want to enter into a license agreement with you pays you a fee to keep the offer open while it makes its decision. In exchange for the payment, you agree not to enter into a license agreement with anyone else for a period of time – maybe six months or a year.

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