Commercialising Intellectual Property: Joint Ventures
“Commercialising IP” is a series of fact sheets aiming to provide an introduction to the forms of commercialisation that can be useful for less advanced public likely to be involved in exploitation of intangible assets. Content provided therein is not intended to be exhaustive and professional advice is strongly recommended when it comes to choose the most suitable commercialisation practice to your organisation.
The present fact sheet focuses on joint ventures (JV) and will put forward some practical and legal issues, mainly from the perspective of the ownership and exploitation of IP, to be considered at all stages of these projects. It tries to point out that if organisations anticipated and properly managed most of the legal risks, they would be able to maximise the financial gains that such settlements are aimed at. Overall, joint ventures have the goal to further develop and/or commercialise intellectual assets belonging to existing organisations, through a separate legal entity or in project collaborations. In both cases, venture partners will license or assign their IP for it to be used for the scope of the JV. Joint venture practices are widely spread across the industry sectors, but also occur in the academic environment.
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