Preparing to negotiate

Preparing to negotiate

1. Effective preparation

   • Assembling the right team
     • Preparing a heads of agreement
       • Defining guidelines for the process
         • Negotiating honestly

2. Build a Team

   • Business Development Executive
   • Scientific/Technical Expert
   • Decision Maker
   • Licensing Attorney

3. Initial Team Meeting

   • It is important that the deal team meet and reach an understanding of the business motivation for the deal and the responsibilities and role of each team member during the process

4. Drafting the contract

   • Commentators have suggested that the party drafting the contract is always in the more favorable