👨‍💼LabsCo Operating Agreement

A DAO owns an IP-NFT that has not been tokenized into IPTs and wants to exit the IP-NFT via license or sale to an IP HoldCo.

About

This template outlines a proposal for the exclusive license or sale of an IP-NFT to a specific entity (e.g., corporation). It covers the summary, background, deal proposal, and implementation steps for such a transaction.

When to use it:

• IP Monetization: Use this template when your DAO wishes to monetize intellectual property (IP) represented by an IP-NFT through a licensing agreement or outright sale to a corporate entity.

• Decision Making: Use it to obtain approval from relevant stakeholders (such as DAO utility token holders) to proceed with the licensing/sale of the IP-NFT.

How to use it:

1. Duplicate Template: click on template below and download the file.

2. Fill in Specific Details: Customize the template with specific information related to your IP-NFT, the corporate entity involved, details of the agreement, consideration (payment or equity), termination rights (if applicable), and additional terms related to IPT holders' voting power or share sales.

3. 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.

4. Community Approval: Present the proposal to relevant stakeholders (such as DAO utility token holders) for discussion and approval. Consider using voting mechanisms or delegating voting power to a representative as outlined in the template.

5. Execution: Once approved, authorise the designated DAO core/deal team lead to execute the final agreement. Ensure that all necessary steps for transferring legal title and responsibilities are followed as outlined in the implementation section.

Important Considerations

Template

Proposal for Exclusive License/Sale of IP-NFT to [Corporate Name LLC/Inc]