The Partnering Agreement between Odyssey and the British Government is groundbreaking for several reasons.
This agreement is the first time:
any government has entered into an agreement with the Private Sector for the archaeological excavation of a sovereign warship.
a private company has purposefully avoided the salvage court or receiver of the wreck in favor of negotiating an agreement for the archaeological excavation of a shipwreck
since the adoption of the Rules of the UNESCO Convention for the Protection of Underwater Cultural Heritage that its archaeological principals have been utilized as a framework for an agreement with the private sector.
a government agreement for an archaeological excavation recognizes a distinction between the archaeological significance of different classes of artifacts as a mechanism to allow sale of some artifacts to help fund management of underwater cultural heritage.
a shipwreck agreement between the private sector and a government anticipates the long term sharing of the proceeds of intellectual property rights as well as the proceeds of an expensive marketing program
a major archaeological excavation will take place at this depth using robotics.
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