Option Agreement Intellectual Property Template for India

1. Due Diligence: Provisions regarding the option holder's right to conduct IP due diligence - include when significant IP evaluation is needed

2. Exclusivity: Restrictions on the IP owner's ability to deal with third parties - include when exclusive rights are being granted

3. Maintenance of IP: Obligations regarding maintaining IP registrations during the option period - include for registered IP rights

4. Right of First Refusal: Additional rights if the IP owner receives third-party offers - include when negotiated

5. Development Obligations: Any ongoing development or improvement obligations - include for in-development IP

6. Competition Compliance: Specific provisions ensuring compliance with competition laws - include for high-value or market-significant IP

7. Tax Provisions: Specific tax-related provisions - include when significant tax implications exist

8. Foreign Investment Compliance: Provisions ensuring compliance with foreign investment laws - include when foreign parties are involved

1. Schedule 1 - Description of Intellectual Property: Detailed description of all IP covered by the option, including registration numbers

2. Schedule 2 - Form of Option Exercise Notice: Template notice for exercising the option

3. Schedule 3 - Purchase Agreement Terms: Key terms of the purchase agreement to be entered into upon exercise

4. Schedule 4 - Encumbrances: List of any existing licenses, charges, or encumbrances affecting the IP

5. Schedule 5 - Due Diligence Documents: List of documents to be provided for due diligence

6. Appendix A - IP Valuation Methodology: Agreed methodology for valuing the IP if price not pre-determined

7. Appendix B - Existing License Agreements: Copies or summaries of any existing licenses affecting the IP