A “non-binding” term sheet can be anything but, if a ruling in a recent case is any indication. In the Delaware Supreme Court decision in SIGA Technologies v. PharmAthene, Inc., Pharmathene sued SIGA for failure to negotiate in good faith in accordance with the original “non-binding” agreement – and won. The ruling holds out the frightening prospect for TTOs and other licensors that common term sheets could obligate them in cases where the two parties end up in a dispute, as happened with SIGA and Pharmathene.
In response, our distance learning division has scheduled a critical webinar briefing led by Johns Hopkins’ licensing pro Emily Williams that will analyze the court’s decision, teach you how to draft your agreements to protect your university, and give you insight into the negotiations and terms that paved the way for the lawsuit – and the decision. Join us on December 5th for When Term Sheets Become Legally Binding: Insight into SIGA Technologies, Inc. v. Pharmathene, Inc. and its Impact on University IP Licensing. For complete program details and to register, CLICK HERE.
ALSO COMING SOON:
- Tuesday, November 5: Technology Transfer after Export Control Reforms
- Wednesday, November 13: How University TTOs Can Slash Patent Expenses While Improving Patent Quality
- Tuesday, November 19: Ready-to-Sign Licenses: Bring in More Licensing Revenue With Less Effort!
- Thursday, December 12: Using Competitive Technical Intelligence Techniques to Assess University Patents