The Oklahoma Agreement between Inventor and Manufacturer Granting License to Manufacture Products from Invention is a legal document that establishes a contractual relationship between an inventor and a manufacturer for the purpose of granting the manufacturer a license to produce and distribute products based on the inventor's invention. This agreement sets out the terms and conditions that govern the rights and obligations of both parties involved. The key elements of an Oklahoma Agreement between Inventor and Manufacturer Granting License to Manufacture Products from Invention include: 1. Parties: The agreement identifies the inventor, who is the owner of the invention, and the manufacturer, who desires to obtain a license to manufacture and sell products based on the invention. 2. Grant of License: The inventor grants the manufacturer a non-exclusive or exclusive license to manufacture, use, and sell products embodying the invention within a specific geographical area or market segment. 3. Scope of License: The agreement defines the scope of the license, specifying the specific products, processes, or technology covered by the agreement. It may also address any limitations or restrictions on the license, such as the duration of the license or the exclusivity rights granted to the manufacturer. 4. Royalties and Payments: The agreement outlines the financial arrangements between the inventor and the manufacturer. It typically includes provisions for royalties, which are payments made by the manufacturer to the inventor based on the sales or production of licensed products. The method of calculating royalties, payment schedules, and any other financial obligations are detailed in this section. 5. Quality Control: The agreement may include provisions regarding quality control to ensure that the manufacturer maintains the desired level of quality and adheres to any specific standards set forth by the inventor. 6. Intellectual Property Rights: This section addresses the ownership and protection of intellectual property rights associated with the invention. It clarifies that the inventor retains all rights, title, and interest in the invention and associated intellectual property, except for the rights specifically granted to the manufacturer under the agreement. 7. Term and Termination: The agreement specifies the duration of the agreement and the conditions under which either party can terminate the agreement. It may include provisions for termination due to breach of contract, non-payment of royalties, or other specified circumstances. Some variations of the Oklahoma Agreement between Inventor and Manufacturer Granting License to Manufacture Products from Invention may include Exclusive License Agreements, Sole License Agreements, and Non-Exclusive License Agreements. These variations define the level of exclusivity granted to the manufacturer and the ability of the inventor to grant licenses to other manufacturers.
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.