The Economic and Bargaining Implications of Rights of First Refusal and Options to Negotiate

Abstract

Rights of first refusal and options to negotiate are tools used to facilitate technology transfer, particularly between universities and other research organisations, to companies. The legal status of these rights are often misunderstood. The legal status and enforceability of these rights is considered in different countries, where their legal status and enforceability differs substantially. The use of these tools also impacts upon the bargaining or negotiation capacity of the parties that use these tools.

Keywords: Right of First Refusal; Option to Negotiate; Enforceability; Negotiation