Montana Exclusive License Agreement between Iowa State University Research Foundation, Inc. and emerge Interactive, Inc. Keywords: Montana, exclusive license agreement, Iowa State University Research Foundation, emerge Interactive 1. Introduction to the Montana Exclusive License Agreement: The Montana Exclusive License Agreement refers to a legal contract between Iowa State University Research Foundation, Inc. (SURF) and emerge Interactive, Inc. The agreement grants emerge Interactive exclusive rights to commercialize specific technology or intellectual property developed by SURF in the state of Montana. 2. Purpose and Objectives: The primary purpose of the Montana Exclusive License Agreement is to give emerge Interactive the sole right to exploit, develop, and market the licensed technology in the designated Montana market. This agreement helps facilitate the transfer of cutting-edge research and innovation from the university to the commercial sector, driving economic growth and technological advancements in Montana. 3. Types of Montana Exclusive License Agreements: a) Montana Exclusive Patent License Agreement: This type of agreement grants emerge Interactive exclusive rights to commercialize a patented technology developed by SURF within the state of Montana. The agreement outlines the scope of the license, including the specific product or process covered by the patent, territorial restrictions, and commercialization obligations. b) Montana Exclusive Trademark License Agreement: In cases where SURF holds trademarks related to a product or service, a Montana Exclusive Trademark License Agreement may be established. This agreement allows emerging Interactive to exclusively use and exploit the registered trademarks within the state of Montana for commercial purposes, ensuring brand recognition and market exclusivity. c) Montana Exclusive Copyright License Agreement: If the intellectual property in question is covered by copyright protection, a Montana Exclusive Copyright License Agreement may be established. This agreement grants emerge Interactive exclusive rights to reproduce, distribute, and display copyrighted materials within Montana, such as software, publications, or artworks developed by SURF. 4. Key Terms and Conditions: — Grant of Exclusive License: The agreement clearly defines the licensed technology, including patents, trademarks, or copyrights, that emerge Interactive will have exclusive rights to within Montana. — Territorial Scope: The agreement clarifies that the exclusive license is applicable only within the state of Montana, restricting emerge Interactive's commercialization activities to this designated area. — Commercialization Obligations: The agreement may specify certain milestones, performance criteria, or marketing plans that emerge Interactive must adhere to for the successful commercialization of the licensed technology. — Royalties and Financial Terms: The agreement outlines the financial arrangements, including upfront fees, milestone payments, and royalties that emerge Interactive must pay to SURF in exchange for the exclusive license. — Intellectual Property Protection: The agreement may also address the necessary steps emerge Interactive must take to protect the licensed intellectual property from infringement or unauthorized use. In conclusion, the Montana Exclusive License Agreement between Iowa State University Research Foundation, Inc. and emerge Interactive, Inc. is a legal contract that grants emerge Interactive exclusive rights to commercialize specific technology or intellectual property developed by SURF within the state of Montana. Different types of exclusive agreements include Montana Exclusive Patent License Agreement, Montana Exclusive Trademark License Agreement, and Montana Exclusive Copyright License Agreement. These agreements serve to harness the value of university research, foster innovation, and drive economic growth within the state of Montana.
Montana Exclusive License Agreement between Iowa State University Research Foundation, Inc. and eMerge Interactive, Inc.
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