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[Music] welcome to the world of deep tech in our previous video we looked at the importance of partnerships for successful commercialization of advanced technologies in this video we will look at some agreements governing these partnerships especially in the context of creating and evaluating technology and ip the basis of a good partnership agreement is mutual understanding between the partners about the rights and responsibilities of each party this understanding captured under a proper legal framework becomes a legal contract that binds the parties to this understanding a contract is the first formal step towards a long-term partnership so the process of closing a contract is as important as the finalized contract it involves a shared understanding of the goals and the ways to efficiently accomplish them together hence it helps to have the best advisors who understand the terms and clauses and the organizational context a contract should be written so that it is easy to understand a
