Iowa Exclusive License Agreement between Iowa State University Research Foundation, Inc. and eMerge Interactive, Inc.

• Category: Corporations - Public - Licenses
• State: Multi-State
• Control #: US-EG-9167
• Format: Word; Rich Text

Description

Exclusive License Agreement dated August 3, 1999. 13 pages The Iowa Exclusive License Agreement is a legally binding contract that establishes the terms and conditions for granting emerge Interactive, Inc. the exclusive rights to commercialize intellectual property developed by the Iowa State University Research Foundation, Inc. This agreement ensures that the research conducted by Iowa State University can be successfully translated into real-world applications bye Merge Interactive, fostering innovation and economic growth. Key terms within the Iowa Exclusive License Agreement include: 1. Exclusive License: This grants emerge Interactive the sole right to use, manufacture, market, sublicense, and distribute the licensed intellectual property, excluding Iowa State University and its affiliates. 2. Scope of License: The agreement defines the specific field or industry within which the license is valid. For instance, it may pertain to software development, biotechnology, or renewable energy. 3. License Term: Specifies the duration of exclusivity, typically outlined in years, during which emerge Interactive has the exclusive rights to commercialize the intellectual property. Upon expiry, the license may be renewable or subject to negotiations for extension. 4. Consideration: Outlines the compensation or financial arrangements between Iowa State University Research Foundation and emerge Interactive, such as upfront fees, milestone payments, royalties, or equity shares. This ensures that both parties benefit from the commercialization of the intellectual property. 5. Intellectual Property Ownership: Establishes that the Iowa State University Research Foundation retains ownership of the licensed intellectual property while granting exclusive rights to emerge Interactive. This protects the university's interests and ensures proper acknowledgment. 6. Diligence Obligations: Requires emerge Interactive to diligently pursue the commercialization of the licensed intellectual property, including the timeframe for development, marketing, and sales efforts. Failure to meet these obligations may lead to termination of the agreement. 7. Reporting and Audit: Sets requirements for periodic progress reports from emerge Interactive, enabling Iowa State University to monitor commercialization efforts. Additionally, it allows for auditing of financial records to ensure proper payment of royalties and compliance with the terms of the agreement. There may also be specific types of Iowa Exclusive License Agreements, depending on the nature of the licensed intellectual property and the objectives of both parties. These may include: 1. Technology License Agreement: Pertaining to licensing patents, copyrights, trademarks, or other technological advancements developed at Iowa State University for commercial purposes. 2. Software License Agreement: Focused on licensing software programs or algorithms developed by Iowa State University, allowing to emerge Interactive to develop, distribute, and sell software applications based on the licensed technology. 3. Service License Agreement: Targeted towards licensing services or proprietary methodologies developed by Iowa State University, enabling emerge Interactive to deliver specific solutions to clients based on the licensed intellectual property. In conclusion, the Iowa Exclusive License Agreement between Iowa State University Research Foundation, Inc. and emerge Interactive, Inc. outlines the rights and obligations for the exclusive commercialization of intellectual property. Through this agreement, the partnership aims to drive innovation, economic growth, and create a mutually beneficial relationship that maximizes the potential of Iowa State University's research.

The Iowa Exclusive License Agreement is a legally binding contract that establishes the terms and conditions for granting emerge Interactive, Inc. the exclusive rights to commercialize intellectual property developed by the Iowa State University Research Foundation, Inc. This agreement ensures that the research conducted by Iowa State University can be successfully translated into real-world applications bye Merge Interactive, fostering innovation and economic growth. Key terms within the Iowa Exclusive License Agreement include: 1. Exclusive License: This grants emerge Interactive the sole right to use, manufacture, market, sublicense, and distribute the licensed intellectual property, excluding Iowa State University and its affiliates. 2. Scope of License: The agreement defines the specific field or industry within which the license is valid. For instance, it may pertain to software development, biotechnology, or renewable energy. 3. License Term: Specifies the duration of exclusivity, typically outlined in years, during which emerge Interactive has the exclusive rights to commercialize the intellectual property. Upon expiry, the license may be renewable or subject to negotiations for extension. 4. Consideration: Outlines the compensation or financial arrangements between Iowa State University Research Foundation and emerge Interactive, such as upfront fees, milestone payments, royalties, or equity shares. This ensures that both parties benefit from the commercialization of the intellectual property. 5. Intellectual Property Ownership: Establishes that the Iowa State University Research Foundation retains ownership of the licensed intellectual property while granting exclusive rights to emerge Interactive. This protects the university's interests and ensures proper acknowledgment. 6. Diligence Obligations: Requires emerge Interactive to diligently pursue the commercialization of the licensed intellectual property, including the timeframe for development, marketing, and sales efforts. Failure to meet these obligations may lead to termination of the agreement. 7. Reporting and Audit: Sets requirements for periodic progress reports from emerge Interactive, enabling Iowa State University to monitor commercialization efforts. Additionally, it allows for auditing of financial records to ensure proper payment of royalties and compliance with the terms of the agreement. There may also be specific types of Iowa Exclusive License Agreements, depending on the nature of the licensed intellectual property and the objectives of both parties. These may include: 1. Technology License Agreement: Pertaining to licensing patents, copyrights, trademarks, or other technological advancements developed at Iowa State University for commercial purposes. 2. Software License Agreement: Focused on licensing software programs or algorithms developed by Iowa State University, allowing to emerge Interactive to develop, distribute, and sell software applications based on the licensed technology. 3. Service License Agreement: Targeted towards licensing services or proprietary methodologies developed by Iowa State University, enabling emerge Interactive to deliver specific solutions to clients based on the licensed intellectual property. In conclusion, the Iowa Exclusive License Agreement between Iowa State University Research Foundation, Inc. and emerge Interactive, Inc. outlines the rights and obligations for the exclusive commercialization of intellectual property. Through this agreement, the partnership aims to drive innovation, economic growth, and create a mutually beneficial relationship that maximizes the potential of Iowa State University's research.