Before you sign
Barako isn’t a party to the sale, so the terms are yours to agree with the buyer. Here is what to settle first.
What to agree with the buyer
Most details are arranged case by case between you and the buyer. Raise these before you sign.
- Scope
- Which systems, accounts and date ranges are exported, and how access is granted
- Security
- How the data is secured while it’s exported, stored and processed
- Exclusions
- What you leave out before export
- Identifiers
- How PII and BII are removed, and how that’s checked
- Permitted use
- What the buyer may do with the data
- Consent and notice
- Consent and notice for employees, customers and others in the data
- Deletion
- Deleting samples and exported data if there’s no sale
- Payment
- Payment and invoicing
Terms that come up
Do we keep ownership of our data?
Yes. A sale licenses a copy of your data. The license may include exclusivity clauses that stop you from selling that copy again.
Can we sell the same data to another buyer?
Usually not. Almost all labs want exclusivity, and their agreements will legally restrict you from selling that copy again.
Can we sell data we create after a sale?
Generally, yes, though it’s decided case by case. Data your company creates after a sale is new and unique, and buyers may want it in the future. You can sell it as long as your earlier buyer’s agreement doesn’t restrict you.
How are samples handled?
A buyer usually asks for a sample once it’s already interested and planning to buy. It inspects the raw sample only to check that the data is in the right format and of the right quality.
Barako never shares samples without agreements signed by all parties. If the buyer decides not to buy, the agreement should require it to delete the sample.
What happens if we don’t agree on a price?
You don’t have to sell. The buyer is expected to delete the data it exported, as set in your agreement with them, and no money changes hands.
When do we get paid?
It depends on the buyer, and is generally set in the agreement you sign with them.
Your responsibilities
Who confirms we have the right to sell the data?
You do. Your company is responsible for confirming it has full rights to sell the data, and for its own legal due diligence.
What can restrict a sale?
Agreements with a parent company, clients or other third parties, and NDAs, among others. For example:
- A client’s private documentation for its own product shouldn’t be included.
- A subsidiary may need permission from its parent company.
- A government contractor may be restricted from selling its communications with the government.
Does Barako take on any liability?
No. Barako takes no liability for damages, lawsuits or other issues that arise from a sale.
Reviewing an offer?
Ask us anything about how a sale through Barako usually runs.
Prefer email? jorrel@barako.ai