THIS INTELLECTUAL PROPERTY LICENCE AGREEMENT is entered into on 04 December 2024
Between
(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)
Whereas
(A) The Licensor has the rights to certain intellectual property relating to INVENTION (the Technology).
(B) The Licensee wishes to obtain a licence to use that technology for the purpose of PURPOSE.
(C) The Licensor agrees to grant to the Licensee, and the Licensee agrees to accept, a licence to use the Licensed IP on the terms and conditions of this Agreement.
It Is Agreed as follows:
1. Definitions
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 of a party (the first party) means all business, financial, technical and other commercially valuable or sensitive information in whatever form, including intellectual property, inventions (whether or not reduced to practice), trade secrets, methodologies, formulae, graphs, drawings, samples, devices, models and any other materials or information which the first party regards as confidential, proprietary or of a commercially sensitive nature which may be in the possession of the first party's employees or management, and all information created, ascertained, discovered or derived by or on behalf of the other party directly or indirectly from any Confidential Information of the first party, and including, in the case of the Licensee, information relating to the Licensed IP or the Improvements, whether disclosed verbally, in writing, in electronic form or by any other means, directly or indirectly by the first party, and whether disclosed or created before or after the Commencement Date, but excluding information which:
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