More is at stake with a technology evaluation agreement as it requires the evaluator to commit time and resources.
Issues which a technology evaluation agreement should cover include:
Technology definition – including reference to relevant patents and a clear description of the stage of development
The market
The disclosure – specify the property and materials the developer will be disclosing and who will do the disclosing and the receiving
The evaluation – the methodology, specific tasks, tests and analysis
Exclusivity – specify if there is an exclusive evaluation period
Milestones – specify milestones in a schedule and attach it as an appendix to the agreement
Human resources – describe the people working on the project, their roles and time commitment
Financial resources – draw up a project budget and attach it as an appendix to the agreement
Technology evaluation fee
Technical support – detail specific areas of technical support to be provided by the developer
Intellectual property – ownership of improvements discovered by the evaluator or new applications that are researched and developed
Post evaluation – the evaluator may want to buy the technology, acquire the right to use it, invest in the developer or the two could form a joint venture
Protection of the technology – specify the steps to keep the technology secret
Audit and inspection rights
Communication – day to day operations and requirement for a technology evaluation report
Term of agreement
