Kansas Agreement between Inventor and Manufacturer Granting License to Manufacture Products from Invention

• Category: Contracts - Inventions
• State: Multi-State
• Control #: US-1036BG
• Format: Word; Rich Text

Description

An invention is a new composition, device, or process. Invention can also be defined to include creative endeavors that extend beyond original, substantial improvements. An invention is also a new, useful, and nonobvious improvement of a process, machine, or product. Any invention which is new, useful, and nonobvious improvement of process can be patented. Inventions that involve processes, machines, manufactures, and compositions of matter, and any improvement thereof, are patentable. A license is a contractual right that gives someone permission to do a certain activity or to use certain property owned by someone else. Licensing agreement is an agreement between two enterprises allowing one to sell the other's property such as products or services and to use their name, sales literature, trademarks, copyrights, etc. in a limited manner. Besides license agreement terms, federal laws provide stiff civil and criminal penalties for pirating and other unauthorized use of other's property. A patent is a grant of a property right by the Government to an inventor. The United States Constitution gives Congress the right to provide for patent protection in legislation in order to encourage useful inventions. The patent itself provides a detailed description of the invention, and how it is used or how to make it. • how many inventions it has evaluated; • how many of those inventions got positive or negative evaluations (legitimate companies will have a fairly low acceptance rate, usually under 5%); • its total number of customers; • how many of those customers received a net financial profit from the promoter's services (that is, the number of clients who made more money from their invention than they paid to the company); and • how many of those customers have licensed their inventions due to the promoter's services (if the success rate is too low, between 2 and 5%, the company's services may not be worth your out-of-pocket expenses).

The Kansas Agreement between Inventor and Manufacturer Granting License to Manufacture Products from Invention is a legal document that outlines the terms and conditions regarding the licensing of an invention and the subsequent manufacturing of products based on that invention. This agreement serves as a mutually beneficial contract between the inventor, who holds the rights to the invention, and the manufacturer, who wishes to produce and distribute the invention's products. The key elements included in this agreement are: 1. Parties involved: The agreement establishes the identities and roles of the inventor and the manufacturer. It clearly states their names, contact information, and their respective legal obligations and responsibilities. 2. License grant: This agreement outlines the specific rights granted to the manufacturer by the inventor. It includes the scope of the license, which may be limited to certain territories, exclusive or non-exclusive, or subject to specific conditions. The agreement also specifies the duration of the license, whether it is for a fixed period or perpetual. 3. Intellectual property rights: The document addresses the ownership of intellectual property rights. It confirms that the inventor is the rightful owner of the invention and its associated patents, copyrights, trademarks, or trade secrets. It also states that the manufacturer shall not claim any ownership rights over the invention. 4. Manufacturing and quality requirements: The agreement establishes the manufacturing standards and quality control measures that the manufacturer must adhere to. These requirements ensure that the products produced maintain the desired level of quality and meet any applicable legal or regulatory standards. 5. Royalties and financial terms: The agreement specifies the financial arrangement between the inventor and the manufacturer. This includes the payment of royalties, which may be a flat fee or a percentage of the sales revenue generated from the licensed products. The document also covers the frequency and method of royalty payments, accounting practices, and any additional financial obligations, such as upfront fees or minimum sales targets. Types of Kansas Agreements between Inventor and Manufacturer Granting License to Manufacture Products from Invention: 1. Exclusive License Agreement: This type of agreement grants the manufacturer exclusive rights to manufacture and distribute the invention's products. The inventor agrees not to license the invention to any other manufacturer during the specified period. 2. Non-Exclusive License Agreement: In this agreement, the inventor grants the manufacturer the right to manufacture and distribute the invention's products, but retains the option to grant licenses to other manufacturers as well. 3. Limited License Agreement: This agreement restricts the manufacturing and distribution rights to a specific territory, market segment, or product category. 4. Perpetual License Agreement: A perpetual license agreement grants the manufacturer the rights to manufacture and distribute the invention's products indefinitely, without any fixed duration. In conclusion, the Kansas Agreement between Inventor and Manufacturer Granting License to Manufacture Products from Invention is a crucial legal document that governs the licensing and manufacturing of an invention's products. It outlines the roles and responsibilities of both parties, intellectual property rights, manufacturing guidelines, financial terms, and license types.