Mississippi 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).

Mississippi Agreement between Inventor and Manufacturer Granting License to Manufacture Products from Invention A Mississippi Agreement between an Inventor and a Manufacturer for Granting License to Manufacture Products from an Invention is a legally binding document that outlines the terms and conditions between the two parties involved. This agreement allows the manufacturer to produce and sell products based on the inventor's patented or copyrighted invention within the state of Mississippi. The agreement typically includes the following key elements: 1. Parties involved: The agreement begins by clearly identifying both the inventor and the manufacturer involved in the agreement. Their legal names, addresses, and contact information are provided. 2. Background: A detailed description of the invention and its purpose is provided in this section. It includes information about the patent or copyright status of the invention and any restrictions or limitations imposed on its use. 3. Grant of License: This section outlines the specific rights and permissions granted to the manufacturer by the inventor. It clarifies the scope of the license, specifying the products that can be manufactured, sold, and distributed using the invention. 4. Term and Termination: The agreement stipulates the duration for which the license is granted, including any renewal or termination conditions. It may specify whether the license is exclusive, meaning the manufacturer has the sole right to produce the products using the invention within Mississippi, or non-exclusive, allowing the inventor to grant licenses to others as well. 5. Financial Arrangements: This section outlines the financial aspects of the agreement, including any upfront payments, royalties, or profit-sharing arrangements between the inventor and the manufacturer. It may also specify the frequency and method of payment. 6. Quality Control: The agreement defines the quality standards that the manufacturer must adhere to when producing the products. It may include provisions for inspections, testing, and maintaining product consistency. 7. Intellectual Property Rights: This clause addresses the ownership and protection of intellectual property associated with the invention. It clarifies that the inventor retains full ownership of the patent or copyright, and the manufacturer cannot claim any rights beyond what is granted in the agreement. Different types of Mississippi Agreements between an Inventor and a Manufacturer for Granting License to Manufacture Products from an Invention include: 1. Exclusive License Agreement: This agreement grants the manufacturer exclusive rights to produce and sell the products within Mississippi, prohibiting the inventor from granting a license to any other party within the state. 2. Non-Exclusive License Agreement: This type of agreement allows the inventor to grant licenses to multiple manufacturers within Mississippi, providing the manufacturer with non-exclusive rights to produce and sell the products. 3. Royalty-based License Agreement: In this arrangement, the manufacturer agrees to pay the inventor a percentage of the sales or profits generated from the sale of the products using the patented or copyrighted invention. Overall, a Mississippi Agreement between an Inventor and a Manufacturer for Granting License to Manufacture Products from an Invention is a crucial legal document that protects the rights and interests of both parties while enabling the commercialization and distribution of innovative products within the state.