Dear members,
would appreciate if someone could throw some light on the limit and scope of ROFR?
* can a collaboration Agreement between two or more parties, contain a clause giving right of first refusal to one party with respect to 'any new venture to be entered into by the other party in future' ?
*and if such clause exists, what is the legality and/or enforceability of such a clause?
*will such a clause be rendered void under the contract laws in as much as the right is in respect to an activity (new venture) that is not defined at the time of entering into the collaboration agreement and such a venture also does not form a part of the agreement?
Thanking all,
MK.
