Our law firm recently provided invaluable assistance in reviewing and advising on a significant Joint Research and Development (R&D) Agreement and Data Transfer Agreement. The agreement involved a pioneering AI startup in the digital healthcare sector and a reputable teaching hospital.
Within the framework of this joint research initiative, the exchange of various data, including sensitive medical information, necessitated a meticulous legal examination on privacy related laws. Our team conducted a comprehensive review, ensuring compliance with the Personal Information Protection Act (“PIPA”) and addressing the right to use the transferred data.
We offered precise counsel to our client, the AI startup, throughout the negotiation and drafting of both the Joint Research and Development Agreement and the Data Transfer Agreement with the teaching hospital. These agreements were crucial in outlining the scope of work, profit distribution, data transfer protocols, and the allocation of research and development deliverables.
With the successful conclusion of these agreements, our client has embarked on collaborative R&D endeavors alongside the teaching hospital. This achievement has not only established a strong foundation for academic cooperation but has also paved the way for attracting substantial financial investments from multiple stakeholders.
