THIS INTELLECTUAL PROPERTY LICENCE AGREEMENT is entered into on 12 June 2021
(1) PARTY_1_NAME whose principal place of business is at PARTY_1_ADDRESS_SINGLE_LINE (the Licensor)
(2) PARTY_2_NAME whose principal place of business is at PARTY_2_ADDRESS_SINGLE_LINE (the Licensee)
(A) The Licensor has the rights to certain intellectual property relating to INVENTION (the Technology).
(B) The Licensee wishes to develop and commercialise the Technology in the field of FIELD throughout the world.
(C) The Licensor has agreed to license the Licensed Intellectual Property to the Licensee on the terms and conditions of this Agreement.
It Is Agreed as follows:
1.1 In this Agreement unless the context otherwise requires the following expressions shall have the following meanings:
Commencement Date means the date on which this Agreement shall commence as specified in Schedule 1;
Confidential Information means all information of a confidential nature (including technical information, data, research results, materials and know-how) disclosed by or on behalf of one party to the other party in connection with this Agreement, whether disclosed before or after the Commencement Date and whether disclosed orally or in recorded form;
Force Majeure means an event or cause beyond the reasonable control of the party claiming force majeure including:
(a) act of God, lightning, storm, flood, fire, earthquake or explosion, cyclone, tidal wave, landslide, adverse weather conditions;
(b) strike, lockout or other labour difficulty;
(c) act of public enemy, war (declared or undeclared), terrorist act, sabotage, blockade, revolution, riot, insurrection, civil commotion, epidemic; and