Legal Question in Intellectual Property in Pennsylvania
I am a one man software company. I'm developing a software system that will integrate with a partnering companies software system. They will sell both systems to their clients together or separately. I obviously need an agreement in place between the two companies. I am trying to determine the areas to consider/discuss in this agreement with my partner.
So far I've considered:
1) Confidentiality and Non-compete clauses
2) Revenue Scenarios (who sells what and how we get paid)
3) What happens with enhancements to either software system
4) boundaries of marketing efforts of both companies
5) liability and insurances
Are there other areas I need to consider.
1 Answer from Attorneys
Yes, consider addressing these four questions during negotiations:
1) who owns the new software that is created during the partnership
2) how long does the partnership last?
3) what exactly is each party promising to do?
4) what happens if either party breaks their promise (for example, bankruptcy, foreclosure, willful breach)
we can help if you decide you need help. Otherwise, I wish you luck with your new venture.
Sharmil McKee
Business Attorney
McKee Law Office, P.C.
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