HEAD OF AGREEMENT

Presented by: Erika Viviana Ariza Ariza Code: 63438354 Presentado to: Daniel Eduardo Medina 212032_76 Head of agreement Grupo 1 16/11/2022

Stage 4 Comprehend IT negotiations

Description: The negotiation of licenses, the purchase or rental of the same, must respect the intellectual value of knowledge, whether patented or not, a technological development that can benefit the company, help it grow financially and commercially, has a price that must be paid to its creator, at present the tools and technological applications that can be given to contribute to the optimization of time or to the impulse of an organization deserve to be recognized to its creator, it is here where the buyer and the seller intervene, who establish certain rules and/or standards that must be followed to obtain the greatest benefit for each of the parties, for the use of technologies that were developed by third parties, it is necessary to establish agreements on how they can be used, the responsibility for their use and the limitations that are available, these must be standardized to avoid conflicts that could end in fines or sanctions.

HEAD OF AGREEMENT

.-Parties: The reistered legal name and location of te parties, the two parties that make up a license are the licensor and the licensee, the licensor grating the licensee the right to use the patented technology. "The registered legal name and location of the parties". -Start Date: Commencement of licence. The start date indicates from which day the contract is signed between the parties and therefore from when the acquired technology can be used - Duration: Agree the appropriate term for the licence (See Duration under scope below). The duration of the contract or agreement is determined. -Nature of the Licensed IP: Provide only those patents that cover the specific product which the licensee wants access to. This means that the license only covers the patent being purchased, it does not cover other technologies.

Group 1: Parties, Start date, Duration, Nature of the Licensed IP, Work Schedule

.-Work Schedule: Where work needs to be done, in transferring the technology from the licensor to the licensee, or where it is expected that one or both of the parties needs to do some specific development work to prepare the product for the market, it is essential that a well-defined work schedule is drafted and agreed by both parties before the licence agreenent is drafted. We can say that the assistance is programmed by the developers of the technology and these consultancies are established in the contract, and allow adjustments to be made to the technology acquired. Explanation of why is important the Head of Agreement document in a technology negotiation? It is definitely important because it offers guarantees for both the buyer and the seller, it is a legal document that allows legal action to be taken against anyone who fails to comply with the established clauses.

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