The Option Agreement Intellectual Property is a crucial document used in Canadian business transactions where parties wish to establish a framework for the potential future transfer of intellectual property rights. This agreement type is particularly valuable in scenarios such as technology company acquisitions, research commercialization, startup funding rounds, or joint venture negotiations. It provides the option holder with exclusive rights to acquire specific IP within a defined period while protecting the IP owner's interests during the option period. The document must comply with Canadian federal IP laws and provincial contract law principles, and typically includes comprehensive provisions regarding option exercise procedures, valuation mechanisms, due diligence rights, and confidentiality obligations. This agreement type is especially relevant in industries with significant IP assets or in situations where parties need time to evaluate IP value before committing to a full purchase.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Parties: Identification of the option grantor (IP owner) and option holder, including full legal names and addresses
2. Background: Context of the agreement, description of the IP being optioned, and the parties' intentions
3. Definitions: Definitions of key terms including 'Intellectual Property', 'Option Period', 'Exercise Price', 'Exercise Notice', etc.
4. Grant of Option: Express grant of the option, specifying exact rights being offered for purchase
5. Option Period: Duration of the option, including start date and expiration date
6. Exercise of Option: Mechanism and requirements for exercising the option, including notice requirements and payment terms
7. Option Fee: Amount and payment terms for the initial option fee, including whether it's credited against the exercise price
8. Exercise Price: Purchase price for the IP if option is exercised, or mechanism for determining the price
9. Rights and Obligations During Option Period: Parties' respective rights and obligations while option is pending, including IP protection and maintenance
10. Representations and Warranties: Warranties regarding IP ownership, validity, non-infringement, and authority to enter agreement
11. Confidentiality: Obligations regarding confidential information exchanged during the option period
12. Assignment: Restrictions on transfer of option rights or underlying IP during option period
13. Termination: Circumstances allowing early termination and consequences
14. General Provisions: Standard boilerplate including governing law, notices, entire agreement, etc.
1. Due Diligence: Terms regarding the option holder's right to conduct IP due diligence - include when significant IP portfolio requires investigation
2. Development Obligations: Include when the IP requires further development during the option period
3. Regulatory Compliance: Include when IP is subject to specific regulatory requirements (e.g., pharmaceutical patents)
4. Right of First Refusal: Include when parties want option holder to have priority rights for future IP developments
5. Escrow Arrangements: Include when source code or other critical IP materials need to be escrowed
6. Third Party Rights: Include when IP is subject to existing licenses or encumbrances
7. Tax Provisions: Include detailed tax provisions when significant tax implications exist
8. Insurance: Include when valuable IP requires specific insurance coverage during option period
1. Schedule A - Description of Intellectual Property: Detailed description of all IP covered by the option, including registration numbers
2. Schedule B - Option Exercise Notice Form: Template form for exercising the option
3. Schedule C - Purchase Agreement: Form of agreement to be executed if option is exercised
4. Schedule D - IP Assignment Agreement: Form of assignment to be executed upon exercise of option
5. Schedule E - Existing Licenses and Encumbrances: List of any existing rights or encumbrances affecting the IP
6. Appendix 1 - Due Diligence Materials: List of materials to be provided for due diligence
7. Appendix 2 - Payment Terms: Detailed payment schedule and mechanisms
Find the exact document you need
Trade Mark Agreement
A Canadian-law governed agreement establishing terms for trademark licensing between owner and user, including usage rights, quality control, and royalties.
Download
IP Contract
Canadian-law governed intellectual property agreement for managing IP rights transfer, licensing, or assignment between parties.
Download
Music Copyright Agreement
A Canadian-law governed agreement establishing ownership, licensing, and exploitation rights for musical works, including royalty structures and rights management provisions.
Download
Intellectual Property Release Agreement
A Canadian law-governed agreement that formalizes the release of intellectual property rights between parties, ensuring legal compliance and protection for all involved.
Download
IP License
A Canadian-law governed agreement establishing terms for licensing intellectual property rights between parties, including scope, payment terms, and compliance with federal IP legislation.
Download
Trade Secret License
A Canadian law agreement governing the licensed use of trade secrets while maintaining confidentiality and providing legal protection under federal and provincial statutes.
Download
Patent Non Disclosure Agreement
A Canadian-law governed agreement protecting confidential information related to patents and patent applications during business or technical discussions.
Download
IP Purchase Agreement
A Canadian law-governed agreement for transferring ownership of intellectual property assets between parties, including terms of sale, warranties, and transfer mechanisms.
Download
Copyright Exclusive License
A Canadian-law governed agreement granting exclusive rights to use and commercialize copyrighted material, including provisions for moral rights and territorial exclusivity.
Download
Simple Intellectual Property Agreement
A Canadian-law governed agreement for protecting and managing intellectual property rights transfers or licenses between parties.
Download
Joint Development Agreement Intellectual Property
A Canadian-law governed agreement establishing terms for collaborative R&D activities and IP rights management between multiple parties.
Download
IP Collaboration Agreement
A Canadian-law governed agreement establishing terms for multi-party collaboration on intellectual property development and protection.
Download
Letter Of Intent To License Intellectual Property
A preliminary Canadian law-governed document outlining the intended terms for a future intellectual property licensing agreement, serving as a framework for negotiations.
Download
Patent Ownership Agreement
A Canadian legal agreement facilitating the transfer of patent ownership rights between parties, governed by federal and provincial intellectual property laws.
Download
Independent Contractor Agreement Intellectual Property
Canadian-law governed agreement establishing independent contractor relationship with focus on intellectual property rights protection and assignment.
Download
Consulting Agreement Intellectual Property
Canadian consulting agreement focusing on intellectual property rights and protection, establishing terms for consulting services and IP ownership under Canadian law.
Download
Intellectual Property Rights Contract
A Canadian law-compliant agreement governing the transfer or licensing of intellectual property rights, including terms for ownership, usage, and protection of IP assets.
Download
Option Agreement Intellectual Property
A Canadian-law agreement granting the right to purchase specific intellectual property rights under predetermined terms and conditions within a set timeframe.
Download
Music Copyright Transfer Agreement
A Canadian law-governed agreement for transferring music copyright ownership, addressing all relevant rights and compliance requirements under the Canadian Copyright Act.
Download
Assignment Of Future Intellectual Property Rights
A Canadian law-compliant agreement for transferring future intellectual property rights from one party to another, ensuring proper documentation and protection of both parties' interests.
Download
Assignment And License Of Patent
A Canadian legal agreement facilitating patent rights transfer with concurrent licensing arrangements, governed by federal and provincial patent laws.
Download
Patent Co Ownership Agreement
A Canadian legal agreement establishing rights and obligations between multiple owners of a patent, including ownership, commercialization, and management provisions.
Download
Software Intellectual Property Rights Agreement
A Canadian-law governed agreement that establishes and manages intellectual property rights for software, including ownership, licensing, and usage terms.
Download
International Copyright Agreement
Canadian-law governed international copyright agreement template for cross-border intellectual property licensing and rights transfer.
Download
Trademark Usage Agreement
A Canadian law-governed agreement that allows controlled use of trademarks by authorized parties while protecting the trademark owner's rights.
Download
Confirmatory Assignment Of Intellectual Property Rights
A Canadian legal document that confirms and provides evidence of a previous transfer of intellectual property rights between parties.
Download
Software IP Transfer Agreement
A Canadian-law governed agreement for transferring ownership of software intellectual property rights and related assets between parties.
Download
Research Collaboration Agreement Intellectual Property
A Canadian-law governed agreement establishing terms for research collaboration and intellectual property management between multiple parties.
Download
Patent Sharing Agreement
A Canadian-law governed agreement establishing terms for sharing or licensing patent rights between parties, including scope, royalties, and mutual obligations.
Download
Logo Copyright Transfer Agreement
A Canadian legal agreement that transfers complete copyright ownership and associated rights of a logo from the original creator/owner to a new owner, including moral rights provisions specific to Canadian law.
Download
Intellectual Property Ownership Contract
A Canadian-law governed agreement for transferring intellectual property rights between parties, covering all forms of IP including patents, copyrights, trademarks, and trade secrets.
Download
Trade Secret Contract
Canadian-law governed agreement for protecting trade secrets and confidential business information between parties, incorporating federal and provincial legal requirements.
Download
Trademark Co Existence Agreement
A Canadian legal agreement enabling two or more parties to coexist with similar trademarks by defining usage parameters and boundaries.
Download
Non Disclosure Agreement Proprietary Information
A Canadian-law governed NDA protecting proprietary information shared between parties, ensuring confidentiality and establishing clear usage parameters under Canadian jurisdiction.
Download
Intellectual Property Rights Software Development Contract
A Canadian-law governed agreement establishing software development terms and intellectual property rights allocation between developers and clients.
Download
IP Development Agreement
A Canadian-law governed agreement establishing terms for intellectual property development, ownership, and commercialization.
Download
Intellectual Property Rights Agreement
A Canadian-law governed agreement establishing ownership, transfer, or licensing terms for intellectual property rights between parties.
Download
Intellectual Property Employment Contract
A Canadian law-governed employment agreement focusing on intellectual property rights, ownership, and protection in the employment relationship.
Download
Collaboration Agreement Intellectual Property
A Canadian-law governed agreement establishing terms for multi-party collaboration with focus on intellectual property rights management and protection.
Download
Patent Purchase Agreement
A Canadian-law governed agreement for the transfer of patent rights from seller to purchaser, including terms of sale and CIPO registration requirements.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)