This document is a technology license between two companies entering into a joint venture. They agree to market and sell the product described in the license agreement.
Nebraska Technology License (NTL) refers to a legal agreement that allows entities or individuals to use, develop, or commercialize technologies owned by the University of Nebraska system or other scientific research institutions within the state of Nebraska. It is a means through which technology transfer occurs from academia to industry, facilitating the application of research findings in various sectors. The Nebraska Technology License provides a framework for negotiating and implementing a mutually beneficial relationship between the technology's owner and the licensee. It grants specified rights to the licensee, ensuring exclusivity or non-exclusivity based on the terms of the agreement. This license allows the licensee to leverage the intellectual property and technical knowledge held by the technology's owner to advance their own business objectives. There are several types of Nebraska Technology Licenses that can be offered based on the nature of the technology or the intentions of the parties involved: 1. Exclusive License: An exclusive license grants the licensee sole rights to develop, use, and commercialize the technology within a specific field or territory. This type of license provides a competitive advantage by preventing others from exploiting the same technology for a defined period. 2. Non-Exclusive License: A non-exclusive license permits multiple licensees to use and develop the technology simultaneously. This license type promotes competition and wider adoption of the technology by allowing multiple parties to benefit from its application. 3. Field-Limited License: A field-limited license restricts the use and development of the technology to a specific field of application. It allows the licensee to capitalize on their expertise within a particular industry while enabling the licensor to grant additional licenses in different fields. 4. Territory-Limited License: A territory-limited license confines the use and development of the technology to a specific geographical region. This type of license is beneficial when a licensee wants to focus on a particular market or when the licensor intends to issue additional licenses in other territories. 5. Evaluation License: An evaluation license grants the licensee temporary access to the technology for the purpose of evaluating its potential value, feasibility, or commercial viability. This license is typically time-limited and serves as a trial period before advancing to a more comprehensive agreement. 6. Royalty-Bearing License: A royalty-bearing license entitles the licensor to receive monetary compensation (royalties) from the licensee based on agreed-upon terms, such as a percentage of sales or a fixed fee. This type of license ensures the licensor benefits financially from the licensee's use or commercialization of the technology. Nebraska Technology Licenses are instrumental in facilitating collaboration between academia and industry, promoting economic development, and fostering innovation within the state. They provide a legal framework that encourages the transfer of technologies from research laboratories to the market, thereby benefiting both parties involved and society as a whole.
