mingwan0, I am familiar with the terms of the option, I never said otherwise. I disagree with your interpretation however.
Correct me if I am wrong, (I'm sure I can count on that) but you are suggesting that the 6 month window has passed for the Retinome. However you go on to point out that the clock starts when DNAP notifies Orchid of new Intellectual Property(IP).
****
"DNAP notify Orchid of some new intellectual property (IP). Orchid may decline to exercise its option there and then, otherwise DNAP negotiate with Orchid for the transfer of the IP (starting within 90 days of Orchid exercising its option) and may not negotiate with any third-party without first negotiating with Orchid. These negotiations can last for a total elapsed time of 6 months "
****
Now in the world I live in, the 'currency' of IP is awarded patents. So my question becomes; If there are not yet any awarded patents, what IP can DNAP present that will 'start' the clock?
It's doubtful that a company with any concept of fiscal responsibility would squander a potentially valuable option on the possibility that a patent 'might' be awarded in a few YEARS. So even if they liked the concepts in the patent application and coveted the technology therein, why would they allow their option 'window' to commence on such a tenuous promise? Why wouldn't they demand the actual patent award to start the clock?
regards,
frog
