This precedent provides an example of an entirely non-binding term sheet, providing outline commercial terms for a particular type of licensing agreement in the pharmaceutical field. It specifies only the detail of commercial points, and does not address important points found in an agreement. Such points as liabilities, indemnities warranties, insurance and other contractual terms (usually found in boilerplate, such as entire agreement and law and jurisdiction clauses). As regards this precedent itself, it does not address the issue of confidentiality of information disclosed by the parties during the course of their negotiations. If this precedent is utilised it should be done so in tandem with a separate confidentiality agreement.

1 name of licensee [Company Registration Number number] whose registered office OR principal place of business is at address OR whose address for service within the jurisdiction of the courts of Kuwait is insert address (the Licensee); and