THE DOCUMENT ITSELF
What you would actually be signing, in plain terms
"Bounded licence" appears on every page like this and means nothing without detail. So: it defines what material is covered, what may be done with it, and what is not transferred. Here is each of those.
WHEN EACH TERM IS SETTLED
Everything material is agreed before signature
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01
Scope, first
What the licence covers is worked out before anything is reviewed, and written into the document.
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02
Use, second
What may be done with the material is defined in the terms rather than assumed.
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03
Price, after the review
We look at the record before pricing it, which is why the number does not move afterwards.
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04
Payment, after approval
Net 30 to 60 once the prepared data is approved, shared, and anonymized. Typically $100K to $2M.
THE CONTRACT QUESTIONS
What counsel asks
Is this exclusive?
That depends on the terms agreed, which is exactly why scope and use are defined before signature rather than left open.
What happens at the end of the term?
Governed by the terms. The point of a bounded licence is that these questions have answers written down rather than implied.
Are there representations or warranties on our side?
A licence document of this kind carries the usual ones about your right to grant it, which is why scope is built around what you are free to license.
Should we have counsel review it?
If you would route any licence that way, yes. It is a licence to defined operational data, not a sale and not a financing.
THE TRACK RECORD
Principals who have papered their own deals
“Eight acquisitions closed, $100M+ in revenue across businesses built with partners, and $21M raised.”
“Built Simplicity Solar to $35M in three years and sold it. He has signed both sides of a transaction.”
SPEAK WITH A MANAGING PARTNER
Read the terms before you decide how you feel about them
Six questions and a short conversation. Nothing you tell us leaves Polyshares.
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