This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.
Maryland Technology License Agreement with a Research Organization as Licensor: A Comprehensive Overview Introduction: A Maryland Technology License Agreement (MTA) is a legally binding contract between a research organization (the licensor) based in Maryland and another entity or individual (the licensee) interested in utilizing or commercializing the technology developed by the research organization. The agreement grants the licensee specific rights to expeditiously transfer technology from the research organization into commercial applications. Keywords: MTA, Maryland, technology license agreement, research organization, licensor, licensee, technology transfer, commercialization. Types of Maryland Technology License Agreements: 1. Exclusive License Agreement: This type of MTA grants the licensee the exclusive rights to utilize, develop, and commercialize the technology developed by the research organization. The licensor agrees not to license the technology to any other party during the term of the exclusive agreement. 2. Non-Exclusive License Agreement: In this variation of MTA, the licensee is granted non-exclusive rights to use the technology. The licensor can enter into similar agreements with other parties simultaneously. 3. Start-Up License Agreement: This specific MTA is tailored for start-up companies that have emerged from the research organization. It provides an opportunity for these startups to license the technology developed by the research organization, often at favorable terms or with additional support. 4. Evaluation License Agreement: This type of MTA allows the licensee to evaluate the technology in a limited capacity before entering into a full commercialization agreement. It provides a short-term license to determine the feasibility and potential of the technology. Key Elements of a Maryland Technology License Agreement: 1. Grant of License: The agreement defines the rights and limitations granted to the licensee, whether exclusive or non-exclusive, including the scope of use, territory, and term of the license. 2. Royalties and Fees: MTA outlines the financial terms, including upfront fees, milestone payments, and ongoing royalties to be paid to the research organization by the licensee. It may also include provisions for cost-sharing or investments in further research and development. 3. Intellectual Property Rights: The agreement addresses the ownership and protection of intellectual property (IP) associated with the licensed technology. It stipulates that any improvements or modifications made by the licensee become the shared or sole property of the licensor. 4. Reporting and Audit: Atlas requires the licensee to submit regular progress reports on the development, commercialization, and financial aspects of the technology. The licensor may also reserve the right to conduct periodic audits of the licensee's records to ensure compliance. 5. Termination and Dispute Resolution: The agreement includes provisions for termination by either party, specifying conditions under which termination can occur. Additionally, it outlines the dispute resolution mechanism, often arbitration or mediation, in case disagreements arise between the licensor and licensee. Conclusion: A Maryland Technology License Agreement with a Research Organization as Licensor facilitates the transfer and commercialization of research-based technologies. By granting licenses, these agreements foster collaboration between researchers and commercial entities, ultimately leading to economic growth and the advancement of technology. Keywords: MTA, Maryland, technology license agreement, research organization, licensor, licensee, technology transfer, commercialization, exclusive license, non-exclusive license, start-up license, evaluation license, grant of license, royalties, fees, intellectual property rights, reporting, audit, termination, dispute resolution.
