Intellectual Property Rights (IPR) include items such as copywrite and trademarks. A buyer is considering entering into a partnership with their supplier to create a new product which will be released in two years’ time. Should IPR be included into a contract between partners?

Intellectual Property Rights (IPR) include items such as copywrite and trademarks. A buyer is considering entering into a partnership with their supplier to create a new product which will be released in two years’ time. Should IPR be included into a contract between partners?
A . Yes- IPR should always remain with the buyer- this will protect those rights
B. Yes- IPR is a valid concern for both parties but will survive the termination of the agreement
C. No- a separate legal agreement should be created to cover IPR
D. No- a contract is not necessary if it is a partnership.

View Answer

Answer: B

Explanation:

The correct answer is ‘Yes- IPR is a valid concern for both parties but will survive the termination of the agreement’ (p.112). See the section on ‘Legal considerations’ in chapter 2.4