The Iowa Royalty Agreement and License of Rights under Patent is a legal document that establishes a contractual agreement between two parties involving the use and exploitation of patented technology in the state of Iowa. This agreement allows the patent owner (licensor) to grant certain rights and permissions to another party (licensee) in exchange for the payment of royalties. Under this agreement, the licensor grants the licensee the right to manufacture, sell, and distribute products or services that incorporate the patented technology within the geographical boundaries of Iowa. The licensee, in turn, agrees to pay a predetermined royalty fee to the licensor for each unit sold or for a specified period of time. There are several types of Iowa Royalty Agreement and License of Rights under Patent, each tailored to specific circumstances. They include: 1. Exclusive License Agreement: This type of agreement grants the licensee exclusive rights to use and exploit the patented technology within Iowa. The licensor cannot grant the same license to any other party. 2. Non-Exclusive License Agreement: In this agreement, the licensor retains the right to grant licenses to other parties, allowing multiple licensees to utilize the patented technology within Iowa. 3. Field-Specific License Agreement: This agreement limits the licensee's use of the patented technology to a specific field or industry, ensuring that the licensee does not exceed the designated scope of use. 4. Territory-Specific License Agreement: Under this agreement, the licensee is granted rights to use the patented technology only within specific geographical boundaries in Iowa, thereby restricting competition with other licensees in different territories. 5. Cross-License Agreement: This type of agreement allows two parties to exchange and license each other's patented technology, promoting mutual access and use within Iowa. Regardless of the specific type, the Iowa Royalty Agreement and License of Rights under Patent serve to protect the licensor's intellectual property rights and provide the licensee with legally sanctioned access to and use of valuable patented technology within the state.
Para su conveniencia, debajo del texto en español le brindamos la versión completa de este formulario en inglés. For your convenience, the complete English version of this form is attached below the Spanish version.