Patent / Technology License Agreement whereby the Licensor grants the Licensee a wide range of rights (include right to sub-license) to use the invention / patent works for commercial production. This is drafted in favour of the Licensee.
The Licensor has the rights to certain intellectual property relating to <? echo $INVENTION; ?> (the Technology).
The Licensee wishes to develop and commercialise the Technology in the field of <? echo $FIELD; ?> throughout the world.
The Licensor has agreed to license the Licensed Intellectual Property to the Licensee on the terms and conditions of this Agreement.
In consideration of the Licensee observing and performing all of its obligations under this Agreement the Licensor grants to the Licensee a non-transferable exclusive licence to develop and commercialise the Licensed Intellectual Property in the Licensed Field on the and conditions of this Agreement in order that the Licensee may manufacture and sell the Licensed Products for the duration of this agreement including the right to sub-license the Licensed Intellectual Property.
The Licensee may at any time sub-license the Licensed Intellectual Property, provided that
(i) the Licensee must pay to the Licensor a proportion of Net Sub-Licence Payments calculated in accordance with the below;
(ii) each sub-licence must include a requirement that the sub-licensee protect the Licensed Intellectual Property to at the least the same extent as required by this Agreement;
(iii) the Licensee must provide a copy of each sub-licence agreement to the Licensor; and
(iv) the Licensee must use its best endeavours to ensure compliance by each sub¬licensee with the terms of its sub-licence.
This document is the Patent / Technology License Agreement whereby the Licensor grants the Licensee a wide range of rights (include right to sub-license) to use the invention / patent works for commercial production.
This is drafted in favour of the Licensee.
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