1.The main parties involved in this negotiation were Biopharm which was represented by the CFO and Seltek Plant who had the CEO present during the negotiations. They want to enter into a strategic business relationship through a buyer-seller agreement. This continuing relationship may be encouraged in light of the real estate matter where Seltek owes $200,000. 2.The patent on Petrocheck should be considered when it comes to what Seltek has to sell as this may not be a product for the pharmaceutical companies and Biopharm may not have any means to distribute it. Nevertheless, from the market at hand it is clear that it may be required to be set up again vesting in the strategic interests keeping in mind those companies which treat oil spills.