1. Revenue generating?
1.1. No.
1.2. Yes. What type?
1.2.1. One time payment
1.2.1.1. Hard (the one time payment will be made on X date)
1.2.1.2. Soft (the one time payment will be made once X happens)
1.2.2. Continuous revenue
1.2.2.1. Hard (include the date(s) of the expected revenue)
1.2.2.1.1. Milestone
1.2.2.1.2. Royalties
1.2.2.1.3. Lump sum
1.2.2.1.4. Other?
1.2.2.2. Soft (include the terms that trigger the payment)
1.2.2.2.1. Milestone
1.2.2.2.2. Royalties
1.2.2.2.3. Lump sum
1.2.2.2.4. Other?
2. Who drafted the contract?
2.1. McGill
2.2. Party X
2.3. Issue 1: What if the parties collaborate on an agreement and the contract is the work of both parties? What if the contract was largely drafted by Party X but McGill insisted on the inclusion of one term? Should there be an option such as "both"?
3. Financial history
3.1. Party X paid [ ] amount on [ ] date
4. What parties are responsible for payment?
4.1. McGill
4.2. Party X
4.3. Both
5. Effective date of contract
6. Content: Patent, copyright, higher life form. Other options?
6.1. Provide as much patent information as possible: ROI, PCT, first effective filing date, etc.
7. Type: License, assignment, MTA, etc. (see notes for all current options)
7.1. Issue 1: Should every variation of an agreement have it's own type, as is the case now? OR should the agreements be more grouped together? For example, an MTA is a variation of a license agreement. Should the user be able to click "License" and choose what type of license, such as an MTA?
7.2. Issue 2: How will agreements that fall under multiple types be categorized? This may be more of an issue for older contracts, but they still need to be accommodated within the system. Should an agreement be able to have more than one type? Or will this complicate the system?
8. Parties
8.1. Example: The type of agreement is a license. McGill is the the licensor, and party X is the licensee. Both of these roles will be indicated in the "Parties" section. Any other parties mentioned anywhere in the agreement will also be listed as a party along with a description of their role.
8.1.1. Licensor: McGill
8.1.2. Licensee: Party X
8.1.3. Other: Party Y
8.1.3.1. Role: Z
9. Term/Termination
9.1. Hard
9.2. Soft
9.2.1. Issue 1: If the termination date is soft, it may be difficult to provide termination options because there could be an infinite variety. Perhaps a soft termination date should have a customizable note a user can fill out to provide details about termination.