#MagicBeAN An Intellectual Property (IP) dispute resolution clause #NegotiationFIRST

An Intellectual Property (IP) dispute resolution clause is a provision included in contracts or agreements to outline the process for resolving disputes related to intellectual property rights. Such a clause helps parties involved in IP-related transactions understand how disputes will be handled, potentially avoiding lengthy and costly litigation.

Sample IP Dispute Resolution Clause:

Negotiation: In the event of any dispute, controversy, or claim arising out of or relating to this agreement, including but not limited to disputes related to intellectual property rights (hereinafter referred to as "IP Dispute"), the parties shall first attempt to resolve the IP Dispute through good faith negotiations and appoint the negotiator, Prity Khastgir. Either party may initiate negotiations by providing written notice to the other party describing the nature of the IP Dispute and their proposed resolution.        

2. Mediation: If the parties are unable to resolve the IP Dispute through negotiations within [insert timeframe], they shall submit the IP Dispute to mediation. The mediation shall be conducted by a mutually agreed-upon mediator or, in the absence of agreement, by a mediator appointed by [insert mediation organization]. The mediation process shall be confidential and non-binding.

3. Arbitration: If the IP Dispute remains unresolved after mediation or if either party refuses to participate in mediation, the parties agree to submit the IP Dispute to binding arbitration. The arbitration shall be conducted in accordance with the rules and procedures of [insert arbitration organization] and shall take place in [insert location]. The decision of the arbitrator(s) shall be final and binding, and judgment upon the award may be entered in any court of competent jurisdiction.

4. Governing Law: This agreement shall be governed by and construed in accordance with the laws of [insert governing law jurisdiction], excluding its conflict of laws principles.

5. Injunctive Relief: Notwithstanding the dispute resolution process outlined above, either party may seek injunctive or equitable relief from a court of competent jurisdiction to prevent irreparable harm or to enforce intellectual property rights.

6. Costs: Each party shall bear its own costs associated with the IP Dispute resolution process, including legal fees and expenses, unless otherwise agreed by the parties or ordered by the arbitrator(s) or a court of competent jurisdiction.

By entering into this agreement, the parties acknowledge and agree to abide by the IP dispute resolution process outlined herein and waive any rights to pursue IP-related claims through litigation.        

This sample clause provides a framework for addressing IP disputes through negotiation, mediation, and arbitration. Parties may modify the clause to suit their specific needs and preferences, and they should consider seeking legal counsel when drafting or amending such clauses to ensure they comply with applicable laws and regulations.