Unlike the previous 3 models, although it is still requested that the Contact Us page be filled out by the US principal, the ERRRQ is NOT a requirement for those US companies interested in out-licensing their IP to SPAP’s foreign pharma customers. In the shared investment plan model the principal/owner of the IP would pay SPAP a monthly, out-licensee development fee, due on the first day of each month, for a duration of 1 year with an extended post-commission Success Fee clause so that, keeping in mind the prolonged nature of principal to principal negotiations of out-licensing contracts, SPAP can be rightly rewarded for its foundational out-licensing work.
At the signing of the out-licensee agreement between one of SPAP’s foreign pharma customers and SPAP’s US Client, all development fees received by SPAP shall be credited against the structured Success Fee to be paid to SPAP. That Success Fee becomes payable to SPAP within 3 days of the signing of the licensee agreement.
Summary:
- No ERRRQ
- A streamlined Out-Licensing Model
- Market development fees
- Success Fees
- Post-commission Success Fee extension
- No Optional, add-on, input services
- No Commercial intelligence collection management options
- No International extension of Objectives & Key Results (OKR’s) program
- 1 year contract