Liability, Warranties, Assumption & Allocation of Risk (2019)
For many universities and their industry partners traditional approaches to negotiating sponsored research and license agreements may not produce the desired results. New models that are intended to streamline university industry agreement and promote more and better university-industry partnerships have emerged over the last few years.
Assessment of risk is an important part of determining reasonable contract terms, and too often, that step is neglected, with negotiators instead relying on standard positions. Terms addressing liability, indemnification, warranties, and insurance are often relegated to “boilerplate” status and not given the attention they need or deserve in university-industry agreements.
Both parties have constraints and policy considerations in these areas that often differ and can cause challenges to negotiating agreements. Activities covered by contracts between industry and universities and the associated risks vary widely. Risk assessment discussed in the context of the statement of work for a project can lead to solutions more appropriate to the situation. In this session we will discuss issues arising in the negotiation of risk-related contract terms, advantages of bottom-up risk assessment, and the importance of assessing risk in the context of the activity.
About the Series
UIDP Academy presents a ten-part webinar series on contemporary issues and opportunities for effective negotiation of industry-sponsored research agreements (ISRAs). This series is strategically designed to offer seasoned contracting professionals, as well as novices and others who just want to learn more about the general contracting issues affecting ISRA negotiations, an opportunity to discuss a broad range of contracting matters. More information about ISRAs can be found in UIDP’s Contract Accords.
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