Client’s intellectual property license updated to deal with new commercial structure

Our client had an intellectual property licensing agreement in place with a US licensee. The client had recently agreed new commercial terms with the licensee and wanted the agreement updated to reflect the new commercial agreement. The commercial agreement was built on a volume discount basis rather than a simple proportion and also changed the scope of territories captured by the licence. We prepared a deed of variation, updating the original license to deal with the new commercial structure whilst ensuring that the complex provisions of the original license remained in place.