Patent License Agreement Term

The exact delivery language must be indicated. These include intellectual property rights under which the licence is granted: only patent or know-how rights, or both; and exclusive rights, exclusively with the licensee, or not exclusively. This section should also define the concept of exclusivity and/or non-exclusivity and specify whether this right is irrevocable; and if there is a right to sub-licensing. A lawyer can help you determine what rights may be granted as part of your licensing agreement. A patent licensing agreement is a contract between a patent holder (conedant) and a licensee that defines the conditions under which the licensee can manufacture, sell and use a patented invention. The agreement also provides for the payment of royalties to the patent holder. The period of termination of an agreement can sometimes be quite complicated. Areas to be considered include the right of one of the parties to terminate the agreement without cause; the rights of the party that has occurred when confronted with a party that refuses to comply; Major injury problems and the time allotted to notify and cure violations before the loss of rights and/or penalties. The three main types of patent licensing agreements are exclusive, non-exclusive and exclusive licenses, which confer different rights on the parties concerned: based on the facts described above and the reciprocal benefits and obligations set out in this agreement, the parties agree on the following. All relevant information about the parties in one place, such as their legal names. B, the party`s contact information for negotiation and legal addresses, are a time saver if the final agreement is written. Keep in mind, however, that these are broad definitions and that the provisions of the agreement should be as specific as possible with regard to the delimitation of rights to both the licensee and the licensee.

Royalties based on a measure related to the sales of a product should be paid to the licensee, along with a report indicating the calculation of the royalty. It is necessary to decide how often and when these reports (and copyrights) are due. In addition, the licensee`s right to verify the books generated by these reports should be part of the license. A license for patent rights held by Harvard is subject to conditions similar to those provided in the form agreements in the links below.