The North Dakota Rights Agreement between Centennial Technologies, Inc. and Intel Corporation is a legally binding document that outlines the rights and obligations of both parties in relation to the intellectual property and technology developed or utilized in North Dakota. This agreement serves to protect the interests of both Centennial Technologies, Inc. and Intel Corporation in their collaborative endeavors within the state. Under this agreement, Centennial Technologies, Inc. grants Intel Corporation certain exclusive rights to access, use, and license any intellectual property or technology developed by Centennial Technologies, Inc. within North Dakota. These rights include the ability to sublicense the technology to third parties, allowing Intel Corporation to generate revenue from the commercialization of the intellectual property. In return, Intel Corporation agrees to provide Centennial Technologies, Inc. with financial compensation for the use of their intellectual property and technology. This compensation may come in the form of royalties, licensing fees, or other mutually agreed-upon mechanisms. The agreement also stipulates the terms for payment and the frequency of compensation. Additionally, the North Dakota Rights Agreement may outline the scope of the intellectual property covered by the agreement. It may specify whether the agreement extends to all current and future technologies developed by Centennial Technologies, Inc. in North Dakota or only to specific patents, trade secrets, or other forms of intellectual property. It is important to note that while this description provides a general overview of a hypothetical North Dakota Rights Agreement, the specific terms and conditions may vary depending on the agreement negotiated between Centennial Technologies, Inc. and Intel Corporation. Different types of North Dakota Rights Agreements between the two entities may exist, such as agreements focusing on specific technologies or sub-licenses within North Dakota.
North Dakota Rights Agreement between Centennial Technologies, Inc. and Intel Corporation
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