tiktok³ÉÈ˰æ

Non Exclusive Option Agreement Template for England and Wales

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Non Exclusive Option Agreement

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Non Exclusive Option Agreement

"I need a Non Exclusive Option Agreement to grant multiple software developers the right to license our API technology, with the option period running until March 2025 and including standard confidentiality provisions."

Document background
A Non-Exclusive Option Agreement is commonly used when parties wish to establish future rights without immediate commitment, while maintaining flexibility for additional arrangements with others. This document, governed by English and Welsh law, typically includes detailed terms about the option's scope, exercise period, consideration, and conditions precedent. It's particularly valuable in commercial scenarios where exclusive rights are not required or desired, such as multiple distribution arrangements or licensing opportunities. The agreement provides a structured framework for managing potential future transactions while protecting both parties' interests under English law.
Suggested Sections

1. Parties: Identification and details of all contracting parties

2. Background: Context and purpose of the agreement

3. Definitions: Key terms used throughout the agreement

4. Grant of Option: Terms of the option, including scope and non-exclusive nature

5. Option Period: Duration of the option and any extension provisions

6. Exercise of Option: Process and requirements for exercising the option

7. Consideration: Payment terms for the option and exercise price

8. Governing Law: Specification of English and Welsh law as governing law

Optional Sections

1. IP Rights: Required if intellectual property is involved in the option

2. Confidentiality: Provisions protecting confidential information

3. Assignment: Rights to transfer the option to third parties

4. Due Diligence: Information access and verification rights

Suggested Schedules

1. Schedule 1: Subject Matter: Detailed description of what the option relates to

2. Schedule 2: Option Exercise Notice: Template form for exercising the option

3. Schedule 3: Pricing Structure: Detailed pricing arrangements if complex

4. Schedule 4: Due Diligence Requirements: List of required documentation and verification processes

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions

























Clauses




























Industries

Law of Property (Miscellaneous Provisions) Act 1989: Fundamental legislation governing property-related contracts and requiring certain contracts to be in writing

Contracts (Rights of Third Parties) Act 1999: Legislation governing how third parties may enforce terms of a contract

Law of Property Act 1925: Core legislation dealing with property law in England and Wales, particularly relevant if the option involves real estate

Land Registration Act 2002: Legislation governing the registration of land ownership and interests in England and Wales

Land Registration Rules 2003: Detailed regulations supplementing the Land Registration Act 2002

Copyright, Designs and Patents Act 1988: Primary legislation protecting intellectual property rights in the UK

Trade Marks Act 1994: Legislation governing the protection and registration of trademarks

Patents Act 1977: Primary legislation governing patent protection in the UK

Consumer Rights Act 2015: Legislation protecting consumer rights, applicable if one party is a consumer

Unfair Contract Terms Act 1977: Legislation regulating unfair terms in contracts and limiting the extent to which liability can be excluded

Misrepresentation Act 1967: Legislation governing false or misleading statements made during contract formation

UK GDPR: Data protection regulation governing the processing of personal data

Data Protection Act 2018: UK's implementation of data protection standards and supplementary provisions to UK GDPR

Competition Act 1998: Legislation prohibiting anti-competitive behavior and agreements

Enterprise Act 2002: Legislation governing market regulation and competition law

Financial Services and Markets Act 2000: Primary legislation regulating financial services and markets in the UK

Limitation Act 1980: Legislation setting time limits for bringing legal claims

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Single Option Agreement

find out more

Simple Stock Option Agreement

find out more

Simple Right Of First Refusal Agreement

find out more

Repurchase Option Agreement

find out more

Purchase Agreement With Payment Plan

find out more

Non Exclusive Option Agreement

find out more

Mobile Home Lease To Own Contract

find out more

Master Leasing Agreement

find out more

Master Lease With Option To Purchase

find out more

Lease To Own Mortgage

find out more

Lease To Own Land Agreement

find out more

Lease To Own Business Contract

find out more

Lease To Buy Option Homes

find out more

Lease And Purchase Agreement

find out more

Land Lease Purchase Agreement

find out more

Land Buying Agreement

find out more

Flex Option Agreement

find out more

Flat Buying Agreement

find out more

Equipment Lease Agreement With Option To Purchase

find out more

Cooperative Lease Option

find out more

Contract For Lease To Own

find out more

Company Equity Share Agreement

find out more

Cash Payment Agreement

find out more

Business Lease Purchase Agreement

find out more

First Option To Buy Agreement

An English law agreement granting exclusive rights to purchase specified property at agreed terms within a defined period.

find out more

Assignable Option Agreement

A contract under English and Welsh law granting transferable rights to engage in a future transaction on predetermined terms.

find out more

Truck Lease To Own Agreement

An English and Welsh law agreement establishing terms for leasing a truck with eventual ownership transfer upon completion of specified payments.

find out more

Owner Finance Purchase Agreement

A legal agreement under English and Welsh law where the property seller provides direct financing to the buyer, outlining sale terms and payment arrangements.

find out more

Short Term Investment Agreement

A legally binding agreement under English and Welsh law governing short-term capital investments, including terms, conditions, and regulatory compliance.

find out more

Seller Financing Purchase Agreement

An English law agreement where the seller finances the buyer's purchase, including payment terms and security arrangements.

find out more

Option To Purchase Business Agreement

A contract governed by English and Welsh law granting the right to purchase a business at agreed terms within a specified period.

find out more

Commercial Lease With Option To Purchase

An English and Welsh law agreement combining a commercial property lease with an option for the tenant to purchase the property under specified terms.

find out more

Outright Purchase Agreement

A contract governed by English and Welsh law for the complete transfer of ownership of goods or assets from seller to buyer.

find out more

Land Option Contract

An English law agreement granting the right to purchase specified land within a set period at a predetermined price.

find out more

Right Of First Refusal Agreement

An English law agreement granting one party the right to enter into a specified transaction before third parties may be offered the same opportunity.

find out more

Option To Buy Contract

A legal agreement under English and Welsh law granting the right to purchase specified property at agreed terms within a set timeframe.

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.