Abstract
The biological-device sector is an exciting and rapidly evolving part of the
healthcare scene. As with other sectors, such as the pharmaceutical and
biotech sectors, licensing is playing an increasingly important role in new
product development, and so is becoming a key “must have” skill
for all companies involved in the sector.
All licensing benefits from a well thought-out, systematic approach, even when
opportunities arise serendipitously. All successful licensing involves an
element of luck, but the successful licensing manager will use his or her
skills to ensure that any available luck is fully exploited.
This report seeks to review all the key elements of licensing in a way that
will allow the reader to undertake his or her own licensing activities in a
professional and competitive manner.
The report briefly reviews trends within the industry and their implications
for licensing, then examines the basic structures and deal types most commonly
employed within the industry. The negotiation process, starting with
confidentiality, moving through to negotiation of a term sheet then a full
agreement are all explained in depth, followed by a review of all the key
clauses that need to be included in a licensing contract.
The report examines all the activities required to secure a successful inward
licensing, including strategic issues, preparing corporate presentation
material and target suitable partners, and then explains how to undertake the
evaluation and due diligence of potential opportunities in a way to maximize
the effective use of internal resources.
As outward licensing becomes increasingly competitive, it is vital that
companies set out their opportunities in the most effective way possible. The
report explains in detail how to action successful out-licensing, including
the preparation of confidential and non-confidential brochures, targeting of
partners and how to make contact.
Financial considerations are discussed, including a detailed review of the
parameters that effect deal values leading to how to best to set a value for
the deal.
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