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1. Due Diligence Rights: Rights to conduct due diligence during the option period - include when complex IP is involved

2. Development Obligations: Any continued development obligations during the option period - include for technology still under development

3. Regulatory Compliance: Specific regulatory obligations - include for regulated industries

4. Competition Law Compliance: Specific provisions ensuring compliance with competition laws - include for market-sensitive licenses

5. Sub-licensing Rights: Terms for sub-licensing - include when sub-licensing might be contemplated

6. Performance Obligations: Minimum performance requirements - include when commercialization is expected

7. Export Control: Export control provisions - include for international arrangements or controlled technologies

8. Source Code Escrow: Software escrow arrangements - include for software licenses

1. Schedule 1 - Licensed IP: Detailed description of the intellectual property covered by the option

2. Schedule 2 - Option Exercise Notice: Form of notice to be used when exercising the option

3. Schedule 3 - License Terms: Detailed license terms that will apply upon exercise of the option

4. Schedule 4 - Financial Terms: Detailed payment terms, including calculation of royalties if applicable

5. Schedule 5 - Technical Specifications: Technical details of the licensed technology or IP

6. Appendix A - Due Diligence Requirements: List of due diligence materials to be provided

7. Appendix B - Development Milestones: If applicable, development targets and timelines

8. Appendix C - Regulatory Requirements: Specific regulatory obligations and compliance requirements