Document background
The License Option Agreement serves as a critical intermediate step in intellectual property transactions under Austrian law, allowing potential licensees to evaluate IP assets before committing to a full license agreement. This document type is particularly useful when parties need time for due diligence, technology assessment, or market evaluation before entering into a full licensing relationship. The agreement typically includes specific provisions for the option period, exercise price, evaluation rights, and the core terms of the potential future license agreement. Used extensively in technology transfers, R&D collaborations, and commercial IP transactions, the License Option provides a structured framework for risk management and staged commitment in IP commercialization, while ensuring compliance with Austrian contract law principles and intellectual property regulations.
