Illinois Collateral License Agreement between GeneLink, Inc. and The University of North Texas Health Science Center

• Category: Corporations - Public - Licenses
• State: Multi-State
• Control #: US-EG-9161
• Format: Word; Rich Text

Description

Collateral License Agreement between GeneLink, Inc. and The University of North Texas Health Science Center at Forth Worth dated July 1, 1996. 2 pages Illinois Collateral License Agreement between Gentling, Inc. and The University of North Texas Health Science Center is a legally binding agreement that governs the terms and conditions of collateral licenses granted by Gentling, Inc. to The University of North Texas Health Science Center. This agreement sets out the rights and obligations of both parties concerning intellectual property and technology transfer. Gentling, Inc., a leading biotechnology company, has entered into a collaborative relationship with The University of North Texas Health Science Center, a renowned academic and research institution, based in Illinois. This agreement aims to facilitate the development and commercialization of innovative technologies and scientific advancements. The key aspects covered in the Illinois Collateral License Agreement include: 1. Definitions: The agreement provides clear definitions of terms, including intellectual property, licensed patents, gene sequences, research materials, and confidential information. 2. Grant of License: Gentling, Inc. grants The University of North Texas Health Science Center a non-exclusive, worldwide, royalty-bearing license to use and sublicense the intellectual property encompassed within the licensed patents. The scope of the license may vary depending on the specific type of license agreement or sublicense executed. 3. Intellectual Property Protection: Gentling, Inc. will take all necessary measures to protect the intellectual property rights associated with the licensed patents. The University of North Texas Health Science Center is required to diligently maintain the confidentiality of any proprietary information disclosed during the collaboration. 4. Financial Considerations: The agreement outlines the financial terms, including royalty rates, payment schedules, and any upfront or milestone payments that the University may be entitled to upon successful commercialization of patented technologies or products. 5. Reporting and Auditing: Both parties are required to regularly report on the progress of the licensed patents' development, commercialization efforts, and financial transactions. The University of North Texas Health Science Center has the right to audit Gentling, Inc.'s records to ensure compliance with the agreement. 6. Termination and Dispute Resolution: The agreement sets forth provisions for termination, including breach of contract, academic misconduct, or patent infringement. It also outlines a dispute resolution process, such as negotiation, mediation, or arbitration, to resolve conflicts between the parties. Specific Types of Illinois Collateral License Agreements between Gentling, Inc. and The University of North Texas Health Science Center may include: 1. Exclusive Collateral License Agreement: This type of agreement grants The University of North Texas Health Science Center the exclusive right to use and sublicense the intellectual property associated with the licensed patents for a specific field or application. This allows the University to have sole control over the commercial exploitation of the technology. 2. Non-Exclusive Collateral License Agreement: In this type of agreement, Gentling, Inc. grants The University of North Texas Health Science Center a non-exclusive license to use and sublicense the intellectual property associated with the licensed patents. This enables multiple parties, including other academic institutions or commercial entities, to benefit from the licensed technology. In conclusion, the Illinois Collateral License Agreement between Gentling, Inc. and The University of North Texas Health Science Center serves as a framework for collaboration and technology transfer, ensuring the effective utilization and commercialization of intellectual property for the advancement of scientific knowledge and societal welfare.

Illinois Collateral License Agreement between Gentling, Inc. and The University of North Texas Health Science Center is a legally binding agreement that governs the terms and conditions of collateral licenses granted by Gentling, Inc. to The University of North Texas Health Science Center. This agreement sets out the rights and obligations of both parties concerning intellectual property and technology transfer. Gentling, Inc., a leading biotechnology company, has entered into a collaborative relationship with The University of North Texas Health Science Center, a renowned academic and research institution, based in Illinois. This agreement aims to facilitate the development and commercialization of innovative technologies and scientific advancements. The key aspects covered in the Illinois Collateral License Agreement include: 1. Definitions: The agreement provides clear definitions of terms, including intellectual property, licensed patents, gene sequences, research materials, and confidential information. 2. Grant of License: Gentling, Inc. grants The University of North Texas Health Science Center a non-exclusive, worldwide, royalty-bearing license to use and sublicense the intellectual property encompassed within the licensed patents. The scope of the license may vary depending on the specific type of license agreement or sublicense executed. 3. Intellectual Property Protection: Gentling, Inc. will take all necessary measures to protect the intellectual property rights associated with the licensed patents. The University of North Texas Health Science Center is required to diligently maintain the confidentiality of any proprietary information disclosed during the collaboration. 4. Financial Considerations: The agreement outlines the financial terms, including royalty rates, payment schedules, and any upfront or milestone payments that the University may be entitled to upon successful commercialization of patented technologies or products. 5. Reporting and Auditing: Both parties are required to regularly report on the progress of the licensed patents' development, commercialization efforts, and financial transactions. The University of North Texas Health Science Center has the right to audit Gentling, Inc.'s records to ensure compliance with the agreement. 6. Termination and Dispute Resolution: The agreement sets forth provisions for termination, including breach of contract, academic misconduct, or patent infringement. It also outlines a dispute resolution process, such as negotiation, mediation, or arbitration, to resolve conflicts between the parties. Specific Types of Illinois Collateral License Agreements between Gentling, Inc. and The University of North Texas Health Science Center may include: 1. Exclusive Collateral License Agreement: This type of agreement grants The University of North Texas Health Science Center the exclusive right to use and sublicense the intellectual property associated with the licensed patents for a specific field or application. This allows the University to have sole control over the commercial exploitation of the technology. 2. Non-Exclusive Collateral License Agreement: In this type of agreement, Gentling, Inc. grants The University of North Texas Health Science Center a non-exclusive license to use and sublicense the intellectual property associated with the licensed patents. This enables multiple parties, including other academic institutions or commercial entities, to benefit from the licensed technology. In conclusion, the Illinois Collateral License Agreement between Gentling, Inc. and The University of North Texas Health Science Center serves as a framework for collaboration and technology transfer, ensuring the effective utilization and commercialization of intellectual property for the advancement of scientific knowledge and societal welfare.