Ok found it on page 16 of the last 10-Q and it's still as clear as mud, thought I think we have to wait for the JV operating agreement:
Areva NP SAS Agreements
On November 14, 2017, the Company entered into three binding agreements with AREVA NP SAS: (1) A Research and Development Services Agreement (RDSA), (2) A Co-Ownership Agreement (COA), and (3) An Intellectual Property Annex (IP Annex). These agreements govern joint research and development activities relating to the Lightbridge-designed metallic fuel and treatment of all existing and future intellectual property related thereto. The signed agreements form the foundation for, are an integral part of, the proposed joint venture arrangement between the Company and AREVA, Inc., a US wholly-owned subsidiary of AREVA NP SAS.
The RDSA defines the terms and conditions for joint R&D activities between AREVA NP SAS (“ANP”) and Lightbridge (“LTBR”) initially (and the JV once it is formed) and joint generation of Foreground Intellectual Property (IP) based on a combination of Background IP contributed by ANP and LTBR.
In connection with the RDSA, the Company is committed to purchase minimum amounts of R&D services from ANP of approximately $3.3 million for the period up through December 31, 2018.
The COA defines terms and conditions for treatment of Background and Foreground IP between ANP and LTBR within the Domain and outside the Domain during and beyond the life of the JV. The COA will survive the life of the JV. Key terms and conditions of the COA include:
ANP and Lightbridge will co-own (on a 50-50 basis) the Foreground IP property that they and their subcontractors (the R&D Agreement defines in detail terms and conditions for subcontracting R&D activities) will create in relation to the various JV projects within the Domain.
·It also includes procedures for managing the Foreground IP, including, for example, deciding when to file patent applications.
·Defines IP governance structure, including the IP Committee.
The IP Annex is a higher-level reference document that will be attached to the JV Operating Agreement, and summarizes the parties’ understanding regarding IP matters based on detailed terms and conditions contained in the RDSA and COA. The IP Annex will be executed by ANP and LTBR as a standalone document and will remain in force only during the life of the JV.
AI
