Dallas, Texas Royalty Agreement and License of Rights under Patent refer to a legal contract that governs the agreement between a patent owner and a third party for the use and exploitation of patented intellectual property. It outlines the terms and conditions under which the third party can use the patented technology or invention, and the obligations and rights of both parties involved. This agreement ensures that the patent owner receives compensation (royalties) for granting the license and that the licensee has the necessary rights to utilize the patented technology. There are several types of Dallas, Texas Royalty Agreement and License of Rights under Patent, including: 1. Exclusive License: This type of agreement grants the licensee the sole right to use the patented technology within a specific field or territory. The patent owner agrees not to grant licenses to any other party during the term of the agreement. 2. Non-Exclusive License: In this agreement, the patent owner can grant licenses to multiple parties simultaneously without any exclusivity. The licensee shares the rights to use the patented technology with others. 3. Territory-Based License: This type of agreement restricts the licensee's use of the patented technology to a specific geographical region or territory. The licensee cannot exploit or sell the technology outside the designated area. 4. Field-of-Use License: This agreement limits the licensee's use of the patented technology to a specific field or application. The licensee cannot utilize the technology beyond the designated field unless specified in the contract. 5. Compulsory License: A compulsory license is a legal mechanism that allows a third party to use the patented technology without the explicit consent of the patent owner. This type of license is typically granted in exceptional circumstances, such as public health emergencies or national emergencies. 6. Cross-License: A cross-license agreement involves an exchange of licenses between two parties who own different patents. They mutually agree to grant each other the rights to use their respective patented technologies. In conclusion, Dallas, Texas Royalty Agreement and License of Rights under Patent is a crucial legal contract that governs the use and exploitation of patented technology. The various types of agreements cater to different scenarios and ensure fair compensation for the patent owner while facilitating innovation and collaboration.
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.