Which of the following Is an Example of an Exclusive License Agreement
Companies with licensing agreements may be immune to litigation because the patent belongs to a separate entity. This means that an entrepreneur, customer, employee, disgruntled business partner, competitor, or other person cannot sue the company in the hope of winning the patents. This makes a business much less attractive to an applicant. 1.9 NON-COMMERCIAL RESEARCH PURPOSES: Use of PATENT RIGHTS and/or BIOLOGICAL MATERIALS for academic research or other non-profit scientific purposes conducted in a governmental or non-profit institution that does not use PATENT RIGHTS and/or BIOLOGICAL MATERIALS in the manufacture or manufacture of products for sale or provision of services for a fee. (a) an exclusive commercial license under PATENT RIGHTS, and under a non-exclusive license, Licensor may license the Intellectual Property to more than one Licensee. These types of license agreements usually cost the licensee less. As used in this Agreement, the following terms have the following meanings: 1.8 NET SALES: the amount invoiced, invoiced or received (whichever comes first) for the sale, rental or other transfer of LICENSED PRODUCTS, less: A license to Harvard`s own patent rights is subject to terms similar to those set forth in the form agreements in the links below. Some terms can be changed to address unique aspects of each situation. In particular, financial conditions are determined based on the technology to be licensed, the licensee`s business model and market standards in the industry in which the licensee operates. According to BrewLong`s attorney, Ashely Brewer, “Licensing agreements are like leases. Much depends on the property in question and the relationship between the parties. 7.2 HARVARD and licensee will cooperate fully in the preparation, filing, prosecution and maintenance of PATENT RIGHTS and all patents and patent applications licensed to LICENSEE under this Agreement by signing all documents and instruments or by requiring HARVARD members to perform such documents and instruments so that HARVARD may file a patent application and patents on behalf of HARVARD.
HARVARD in each country; can track and maintain. Each Party shall promptly inform the other Party of any matter brought to its attention that may affect the preparation, filing, prosecution or maintenance of such patent applications or patents. In particular, licensee must promptly notify HARVARD if LICENSEE or an AFFILIATE or sublicensee (or option holder) is not considered a “small entity” within the meaning of the United States Patent and Trademark Office. A license can also choose a balance between exclusive and non-exclusive. Such a license is sometimes referred to as a “co-exclusive” license and is a license in which the licensor grants a license to more than one licensee, but agrees to grant licenses only to a limited group of other licensees. The group of licensees can be identified by name, description (a licence is granted only to licensees who meet certain criteria) or simply by number (a limited number of licences are granted by the licensor). An exclusive license offers roughly the same benefits as a lease – the startup retains control of the assets but doesn`t have to spend capital on it. Although non-exclusive and exclusive license approvals allow a licensee to use intellectual property in exchange for specific negotiated compensation, each differs in the degree of exclusivity granted to the licensee. There are also two different types of license terms.
In practice, patent holders choose to license their patents in order to be able to produce and distribute them widely. Individuals and companies that produce patentable material (such as new inventions) are generally not the same parties that can easily manufacture and distribute it. It`s easier to allow someone else to handle the commercial side of the patent while still earning royalties. The following includes BIOLOGICAL MATERIAL provided by HARVARD: 8.4 Without harvard`s prior written consent, consent or any other voluntary final decision on prosecution, the consent of which cannot be unreasonably withheld. (c) From the time such product, process or service is distributed or sold commercially by licensee or by a sublicensee, AFFILIATE or agent of licensee (except for the purpose of obtaining regulatory approvals), LICENSEE shall, at its own expense and expense, provide commercial general liability insurance of at least $2,000,000 per incident and $2,000,000 to enter into and maintain the total annual amount and designate the Compensated as additional insured. During clinical trials of such product, procedure or service, LICENSEE shall, at its own expense and expense, purchase and maintain commercial general liability insurance of the same or lower amount required by HARVARD and designate the Indemnitees as additional insureds. This commercial general liability insurance provides (i) product liability coverage and (ii) extended contractual liability insurance for the LICENSEE`s indemnification under this Agreement. If licensee chooses to insure himself or herself in part of the limits described above (including deductibles or deductibles greater than $250,000 per year), this self-insurance program must be acceptable to HARVARD and the Risk Management Foundation of Harvard Medical Institutions, Inc., in its sole discretion. The minimum amounts of insurance required shall not be construed as limiting the LICENSEE`s liability with respect to its compensation under this Agreement. (c) to the extent specified separately on orders, invoices or other sales documents, taxes levied on production, sale, transportation, delivery or use and paid by or on behalf of licensee or Sublicensees; and a.intangible property licensed to its subsidiary (interpretation, page 498) The benefits of licensing can be considered from two angles: the licensor and the licensee. A non-exclusive license grants the licensee the right to use the intellectual property, but means that the licensor is free to exploit the same intellectual property and to allow a number of other licensees to exploit the same intellectual property as well.
Exclusive license agreements are only contracts. And in a contract, each party can set the terms of what it will give and receive. Since many start-ups as well as CEOs have no experience with non-exclusive or exclusive licenses, it is good that these agreements are enforceable and well respected. These agreements can include a variety of terms, including arbitration clauses, late payment mechanisms, and more. 1.1 AFFILIATE: any company, entity or company in which the LICENSEE owns or controls at least fifty percent (50%) of the voting shares or other interests. Unless otherwise stated, the term LICENSEE includes AFFILIATES. Runtime licenses are much more common across all industries. While many people don`t think so much about paying Netflix every month, part of that fee is a license to use their proprietary digital software. (d) HARVARD may terminate or render this License non-exclusive at any time after [number] years after the effective date of this Agreement if, in HARVARD`s reasonable opinion, the progress reports submitted by licensee do not indicate that LICENSEE: Notice of products offered by third parties – In the case of an exclusive license granted in all or part of the domains, Licensee may initially focus on a limited number of products or uses of the Licensed Technology. To support Harvard`s mission to promote the common good by commercializing Harvard`s proprietary technology as much as possible, Harvard may include provisions indicated in the following link to encourage a licensee to develop products offered by third parties or to sublicense the licensee`s rights in Harvard`s patent rights to that third party. enable the development and commercialization of additional products. 10.10 LICENSEE agrees to (i) obtain all regulatory approvals necessary for the manufacture and sale of LICENSED PRODUCTS and LICENSED PROCESSES, and (ii) use appropriate patent marking for such LICENSED PRODUCTS.
Licensee also agrees to register or register this Agreement as required by law or regulation in any country in which the License is in effect. .
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