Your plant variety deserves more than a “set it and forget it” approach to contracts. Your licensing agreement has to be keeping pace with today’s market realities. 3 telltale signs it’s time for a contract refresh and why it matters.
1. It’s Been Years Since You Last Reviewed It
Regulations, market dynamics, and even your own breeding goals can shift dramatically over time. If your contract hasn’t changed along with them, you risk missing out on protection or revenue opportunities.
2. Royalties No Longer Reflect Your Market
Rates that once made sense may now be too low (or too high). Outdated royalty structures can leave money on the table and invite disputes if licensees feel the terms aren’t fair or consistent with industry standards.
3. Enforcement Clauses Are Vague or Weak
A strong contract outlines what happens if someone breaches your rights. If your current agreement isn’t crystal clear on penalties, dispute resolution, or the steps for license termination, you could face legal headaches and financial losses.
A well-maintained licensing agreement safeguards your investment, ensures steady revenue, and reduces legal risks.
Think these signs sound familiar? Let’s connect and make sure your contract is as robust as the varieties you’ve worked so hard to create.