👉 In the context of technology, a "farmout" refers to the process of developing a new product or service that is already in existence and being sold by another company. It involves transferring the existing assets and intellectual property rights of one company to another company in exchange for exclusive use of the acquired assets and technology. The term "farmout" is often used in the context of software development, where it refers to a process of creating a new version of an existing application or software program that uses the
