The Ever-Confusing World of Contract Lingo – Part 1
While much of OTT’s work deals with the review, protection, and management of the inventions made by our faculty, there is a whole other side that is of equal importance: negotiating contracts with industry, be it for licenses, clinical trials, collaborations, sponsored work, or confidential discussions. Just as the world of patents has its own set of jargon and terms, contracts do too. Below we’ve compiled a helpful list of some common terms you may encounter in contracts. What is a Contract? At its most basic, a contract is a binding legal agreement voluntarily entered into by two or more Read More …