A data license is a short document with big consequences. Use this checklist to make sure nothing important is missing. This is not legal advice; review the final agreement with your counsel.
Scope and rights
- Scope of data. Which systems, teams, channels, folders and date ranges are included, and what is explicitly excluded?
- Permitted use. Training, evaluation, benchmarking? Can the buyer pass it to AI labs, and under what limits?
- Term. How long does the license run? What happens to the data afterwards?
- Exclusivity. Exclusive or non-exclusive? Does exclusivity cover just this data or future data too?
- Ownership. Confirm in writing that you retain ownership of the underlying data and can keep using it.
Protection
- Anonymization standard. What is removed, by whom, and before or after transfer?
- Sample review. Your right to review an anonymized sample before delivery.
- Access controls. Who can see raw data, where it’s stored, and security standards.
- Retention and deletion. How long it’s kept, deletion on request or at term end, and written confirmation.
- Audit and disclosure. Can you ask which parties received the data? (Polyshares states it does not disclose which labs take which data, so negotiate if this matters.)
Not sure if your data qualifies? The intake takes a few minutes.
Money
- Price and payment timing. Amount, currency, and when it’s paid. Polyshares states net 30–60 after approval.
- Fees and deductions. Confirm no commission or fees are deducted. Polyshares states there is no fee to the company.
- Conditions to payment. What “approved” means, and what happens if the buyer rejects part of the data.
Risk
- Warranties and indemnity. What you promise about the data (ownership, consents), and who covers losses if identifying data leaks or a third party objects.
- Termination and governing law. How either side can exit, what happens to delivered data, and which state’s law applies.
Red flags
- Upfront fees charged to you
- Vague or unlimited “any purpose” use rights
- No deletion commitment
- Broad warranties that make you liable for the buyer’s anonymization
- Exclusive rights over data you haven’t created yet, with no extra payment
Printable version
A condensed version of this checklist is on our Resources page.
Frequently asked questions
Do I need a lawyer to sign a data license?
We strongly recommend it. The agreement covers confidential data, privacy obligations and liability. A lawyer’s review is a small cost compared with a six- or seven-figure deal.
What is the most commonly overlooked term?
Retention and deletion. Know exactly how long the buyer and its customers keep the data, and get written confirmation when it is destroyed.