FasterCures convened a small Intellectual Property (IP) expert panel in July 2012 to develop a set of guiding principles and points to consider that can serve as a useful tool for all parties in biomedical research, in particular nonprofit disease groups and philanthropists negotiating IP with academic, industrial, and other nonprofit partners. The principles that emerged stand on the foundation that has been built and tested by others. They are intended to provide guidance for organizations new to IP negotiation as well as to serve as a set of useful values for more experienced organizations.