An IP-NFT owner has tokenized the IP-NFT into IPTs and wants the IPT holders to vote to exit the IP-NFT via license or sale to an IP HoldCo and wind up the IPT program.
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This template outlines a proposal for the exclusive license or sale of an IP-NFT and the winding up of an associated IPT program within a community. It covers the summary, background, deal proposal, and implementation steps for such a transaction.
End of IPT Program: Use this template when the IPT program has fulfilled its purpose and there is an opportunity to monetize the IP-NFT through an exclusive license or sale while winding up the program.
Decision Making: Use it to obtain approval from relevant stakeholders (e.g., DAO utility token holders or IPT holders) to proceed with the licensing/sale and winding up of the program.
Duplicate Template: Click on template below and download the file.
Fill in Specific Details: Customize the template with specific information related to your IP-NFT, licensee/assignee, details of the agreement, consideration (payment or equity), termination rights (if applicable), and distribution of proceeds among IPT holders (if relevant).
Legal and Financial Review: Ensure that all terms and agreements comply with legal requirements and financial regulations. Consult counsel if you want legal advice related to use of the agreement.
Community Approval: Present the proposal to relevant stakeholders (e.g., DAO utility token holders or IPT holders) for discussion and approval. Consider using voting mechanisms or delegating voting power to a representative as outlined in the template.
Execution: Once approved, authorize the designated entity (e.g., IP-NFT HoldCo or DAO) to execute the final agreement and handle the transfer of the IP-NFT and distribution of proceeds as outlined in the implementation section.
Important Considerations