Maybe I am missing obvious, but I think it's not that complicated. Once the
Institution comes up with an invention, ILEX has the option to buy a license
for the stuff or refuse. Only upon refusal, the Inst. can sell it to someone
I would go with something like Opce na licenci, licencni opce.
----- Original Message -----
From: "Kostas Zgafas" <kzgafas@...>
Sent: Thursday, January 02, 2003 12:22 PM
Subject: [Czechlist] TERM: Option for licence
> Does anyone know this term? Is it anything specific - as "licencni opce",
> etc? The "license" relates to intellectual property.
> Some context:
> Option for License; Right of First Refusal. Institution grants to ILEX a
> first option to execute an exclusive, worldwide, royalty-bearing license,
> with the right to grant sublicenses, to Institution's undivided one-half
> interest in the Developments.
> Thank you,
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