By Kenneth I Schaner Esq Schaner amp Lubitz PLLC wwwschanerlawcom Standard of Diligence Commercially Reasonable Efforts Milestones Interruption Period Staying Informed P eriodic reporting ID: 390255
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Slide1
License Revocation
By Kenneth I. Schaner, Esq.Schaner & Lubitz, PLLCwww.schanerlaw.comSlide2
Standard of Diligence
Commercially Reasonable EffortsMilestonesInterruption PeriodSlide3
Staying Informed
Periodic reporting as to how the development work is proceedingPeriodic meetings Responding to questions about progressStatus of resultsCreate working
partnership with funding charitySlide4
Decision to Revoke License
Diligence standard has not been metConsultation with funding charityNotification and opportunity to explainThreat of
revocation should be an incentive for licensor to maintain CRE or reach milestonesScientific FailureSlide5
Reversion
If as a result of the inquiries, the licensor, in consultation with the funded charity, determines to invoke the reversion, the licensor would be notifiedIf there have been any advancements in IP
since the licensing, the licensor might try to have these included in the revocationSlide6
After the Revocation
Seeking new licensing candidates?Development v. sublicensing?Slide7
Conclusion
If you have further questions, please contact me at:Kenneth I. Schaner, Esq.Schaner &
Lubitz, PLLCken@schanerlaw.com240.482.2848