What does a walk-away resolve?
The phrase is only a starting description. Ask whether the agreement includes releases, dismissal, a covenant not to sue, or permission for future activity. Identify exactly whose claims and which products are covered. A zero-dollar payment alone does not answer those questions.
What should a license address?
Under 35 U.S.C. 271(a), authorization matters to infringement. Review the proposed authorization's scope, including patents, products, territory, duration, customers, and any payment conditions. Work through the treatment of a redesign, an acquired business, and remaining inventory before signing.
How will the agreement be enforced?
In Kokkonen v. Guardian Life Insurance Co. of America, the Supreme Court held that federal jurisdiction to enforce a settlement does not follow automatically from dismissal of the original case. Discuss the enforcement forum and dismissal language with counsel.
How should I compare the options?
Use a short side-by-side worksheet covering total payments, future operating rights, reporting obligations, unresolved exposure, and enforcement. Compare actual terms rather than assuming that a document called a release or license is necessarily broader.