Master Alliance Provisions Guide (MAPGuideⓇ)
Term of Agreement
This issue is used to identify the different ways in which the term of an agreement may be determined or extended.
Questions to consider when developing a term of agreement provision
- What is the required term of the agreement? Is it tied to the timeline of the project or license grants?
Example approaches found in the MAPGuide
- Supply Agreements
- The agreement remains in effect until the order volume is fulfilled by the supplier.
- Development Funding & Collaboration Agreements
- The initial term of the agreement is a set number of months corresponding to the expected timeline for completion of a Phase I clinical trial. The term may be amended when the parties agree a scope of work to continue into Phase II.
- The agreement term is connected to the expiry date of the patent rights under the agreement.
- The agreement term is connected to the completion of activities set out in the work package/statement of work/research plan.
- The agreement has a fixed term but parties may cease efforts at an earlier date if the funds allocated to the project are exceeded.