Any agreement between two parties begins with the rosy optimism that the good times will last forever. In the world of technology licensing and development, however, we know this is rarely the case. While this blog has previously considered data security oversight by the board of directors of the company, it is also important for a company’s legal and procurement teams to establish a plan for the security, use, and transition of its data throughout the contracting process. These issues are particularly important in highly regulated industries such as healthcare and financial services.
While there are many types of data issues that a company may need to address in any contract negotiation, our team has found that the following issues require consideration in nearly every technology licensing and development agreement.