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Intercompany Ip License Agreement4/11/2021
These organizations will lean on their in-house experience and should pay close attention to the lessons learned during the 2008 market crisis.Force Majeure is a clause included within an agreement that is commonly referred to as the Act of God clause.
The clause is generally intended for acts of nature that were unpredictable such as floods, fires, or earthquakes but are not limited to these examples. Force Majeure clauses use specific language in transactions that can absolve the involved parties of their responsibilities. ![]() Intercompany Ip Agreement License Agreement AndThankfully, license agreement and other types of agreements provide a window into how companies are addressing this crisis. ![]() However, just because a Force Majeure clause is present, theres no guarantee it will cover this specific instance depending on the clause language. In fact, the only way to fully understand how the clause is constructed would be to review the contractual language to understand the extent of coverage. Ultimately, ensure the agreement meets the business needs and risks. The most effective way to ensure the language being drafted is appropriately structured would be to analyze existing clauses.
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