New York Exclusive License Agreement between Individual Inventor and Corporation

• Category: Licenses - Agreements
• State: Multi-State
• Control #: US-0567BG
• Format: Word; Rich Text

Description

This form is an exclusive license agreement between an individual inventor and corporation. A New York Exclusive License Agreement between an Individual Inventor and Corporation is a legally binding contract that outlines the terms and conditions for the exclusive licensing of an invention or patent from the inventor to the corporation. This agreement is specific to the state of New York and governs the relationship between the inventor and the corporation. This type of agreement grants the corporation the exclusive rights to use, manufacture, market, and sell the inventor's patented invention within a specified geographic region or for a designated period of time. It ensures that the inventor retains ownership of the patent while allowing the corporation to utilize and commercialize the invention for mutual benefit. The New York Exclusive License Agreement typically includes the following key components: 1. Parties Involved: The agreement identifies the individual inventor and the corporation involved in the licensing agreement. It includes their legal names, addresses, and any relevant business registration details. 2. Description of the Invention: This section provides a detailed description of the invention or patent being licensed, including any accompanying intellectual property rights and technical specifications. 3. Exclusive Rights Granted: The agreement outlines the exclusive rights granted to the corporation, such as the right to make, use, and sell the invention. It ensures that the inventor will not license the same invention to any other party during the term of the agreement. 4. Territory and Term: The agreement specifies the geographic region or market where the exclusive license is valid. Additionally, it establishes the duration or term of the licensing agreement, outlining the start and end dates or conditions for termination. 5. Royalties and Royalty Payments: This section addresses the financial aspect of the agreement, including details about the royalty rate, payment frequency, and any minimum royalty obligations. It may also cover royalties related to sublicenses granted by the corporation. 6. Confidentiality and Non-disclosure: To protect the inventor's intellectual property, this clause ensures that both parties agree to treat all confidential information received during the agreement as strictly confidential. It outlines the obligations for maintaining secrecy and the consequences for unauthorized disclosure. 7. Intellectual Property Ownership: This provision confirms that the ownership of the patent or invention remains with the individual inventor throughout the agreement and after its termination. It may also address any potential improvements or modifications made to the invention during the license term. 8. Representations and Warranties: Both parties typically provide certain representations and warranties of their authority to enter into the agreement, the validity of the patent, and the absence of infringement or claims against the invention. Types of New York Exclusive License Agreements between Individual Inventor and Corporation may include: 1. Exclusive License Agreement for Manufacturing: This type of agreement grants the corporation the exclusive rights to manufacture and distribute the inventor's product within a specific territory. The corporation assumes responsibilities for production, quality control, distribution, and marketing. 2. Exclusive License Agreement for Distribution: This agreement allows the corporation to exclusively distribute and sell the inventor's product within a designated market. The inventor retains control over manufacturing while the corporation focuses on marketing, sales, and distribution. 3. Exclusive License Agreement for Technology Transfer: If the invention involves a novel technology or process, this agreement allows the corporation to exclusively use and exploit the technology in their operations. The corporation may further develop, improve, or commercialize the technology. In conclusion, a New York Exclusive License Agreement between an Individual Inventor and Corporation is a comprehensive legal contract that defines the terms under which an invention or patent is exclusively licensed by the inventor to the corporation. It outlines the rights, responsibilities, and financial arrangements between the parties involved, safeguarding the interests of both the inventor and the corporation.

A New York Exclusive License Agreement between an Individual Inventor and Corporation is a legally binding contract that outlines the terms and conditions for the exclusive licensing of an invention or patent from the inventor to the corporation. This agreement is specific to the state of New York and governs the relationship between the inventor and the corporation. This type of agreement grants the corporation the exclusive rights to use, manufacture, market, and sell the inventor's patented invention within a specified geographic region or for a designated period of time. It ensures that the inventor retains ownership of the patent while allowing the corporation to utilize and commercialize the invention for mutual benefit. The New York Exclusive License Agreement typically includes the following key components: 1. Parties Involved: The agreement identifies the individual inventor and the corporation involved in the licensing agreement. It includes their legal names, addresses, and any relevant business registration details. 2. Description of the Invention: This section provides a detailed description of the invention or patent being licensed, including any accompanying intellectual property rights and technical specifications. 3. Exclusive Rights Granted: The agreement outlines the exclusive rights granted to the corporation, such as the right to make, use, and sell the invention. It ensures that the inventor will not license the same invention to any other party during the term of the agreement. 4. Territory and Term: The agreement specifies the geographic region or market where the exclusive license is valid. Additionally, it establishes the duration or term of the licensing agreement, outlining the start and end dates or conditions for termination. 5. Royalties and Royalty Payments: This section addresses the financial aspect of the agreement, including details about the royalty rate, payment frequency, and any minimum royalty obligations. It may also cover royalties related to sublicenses granted by the corporation. 6. Confidentiality and Non-disclosure: To protect the inventor's intellectual property, this clause ensures that both parties agree to treat all confidential information received during the agreement as strictly confidential. It outlines the obligations for maintaining secrecy and the consequences for unauthorized disclosure. 7. Intellectual Property Ownership: This provision confirms that the ownership of the patent or invention remains with the individual inventor throughout the agreement and after its termination. It may also address any potential improvements or modifications made to the invention during the license term. 8. Representations and Warranties: Both parties typically provide certain representations and warranties of their authority to enter into the agreement, the validity of the patent, and the absence of infringement or claims against the invention. Types of New York Exclusive License Agreements between Individual Inventor and Corporation may include: 1. Exclusive License Agreement for Manufacturing: This type of agreement grants the corporation the exclusive rights to manufacture and distribute the inventor's product within a specific territory. The corporation assumes responsibilities for production, quality control, distribution, and marketing. 2. Exclusive License Agreement for Distribution: This agreement allows the corporation to exclusively distribute and sell the inventor's product within a designated market. The inventor retains control over manufacturing while the corporation focuses on marketing, sales, and distribution. 3. Exclusive License Agreement for Technology Transfer: If the invention involves a novel technology or process, this agreement allows the corporation to exclusively use and exploit the technology in their operations. The corporation may further develop, improve, or commercialize the technology. In conclusion, a New York Exclusive License Agreement between an Individual Inventor and Corporation is a comprehensive legal contract that defines the terms under which an invention or patent is exclusively licensed by the inventor to the corporation. It outlines the rights, responsibilities, and financial arrangements between the parties involved, safeguarding the interests of both the inventor and the corporation.