Issue link: https://htpgraphics.uberflip.com/i/116750
Emily's R&D SCENARIOS Again, put yourself in the shoes of Emily and Prof. Table and think about what your roles in the research relationship might be. If you were Emily, it is likely that you would be very interested in the relevant terms, on the basis that you had done most of the work in your spare time and Lakeland would not have had any rights over the work had you not chosen to bring it into the picture. If you were Prof. Table, you might be thinking about undertaking the Project Management role – what responsibilities would this entail for you? Think about what type of research relationship might be appropriate here. Will there be an active collaboration between the parties, i.e. each party contributes IP, research staff, etc? Will this be a case of sponsored research where the research institution will be setting the agenda, but the sponsor provides the cash? Is it pure contract research where the sponsor drives the agenda? The parties sign up to Heads which are very basic and leave the detail to be included in the main agreements. They have decided to go the route of a Research and Development Agreement, documenting a collaborative research relationship, whereby NWP will pay for the research to be undertaken, connected to a Revenue Share Agreement. Emily and Prof. Table have been asked to draw up a Project Plan to be included as a Schedule to the main agreement. Draft out a rough guide as to what Emily and the Prof. should be including in the research plan and what they need to take into consideration. Remember, you can look at the Research Contracts Guide for some handy tips. NWP provides Lakeland with draft contracts. The basic terms are as follows: Research and Development Agreement ('RDA') nNWP will pay £500,000 to Lakeland over the course of the Project. £200,000 on signature of the Agreement; £100,000 at the first Milestone Date, £150,000 when the results of the Project are delivered and the final £50,000 on the date of first commencement of clinical trials of any product arising from the results. 19