The Oklahoma Exclusive License Agreement between Iowa State University Research Foundation, Inc. (SURF) and emerge Interactive, Inc. is a legally binding contract that grants emerge Interactive exclusive rights to commercialize and further develop a specific technology or invention that has been created by SURF. This Agreement aims to provide emerge Interactive with the sole authority to exploit, manufacture, market, and distribute the licensed technology within the state of Oklahoma. By acquiring this exclusive license, emerge Interactive gains a competitive advantage in the marketplace and gains control over the commercialization process of the technology. The terms of the agreement include provisions regarding intellectual property protection, payment mechanisms, financial obligations, milestones, confidentiality clauses, and dispute resolution mechanisms. SURF retains ownership of the licensed technology and is entitled to receive royalties, milestone payments, or other financial considerations as specified in the contract. There are various types of Oklahoma Exclusive License Agreements that can be tailored based on the specific technology or invention being licensed. Some key types include: 1. Intellectual Property Exclusive License Agreement: This agreement allows emerging Interactive to exclusively license and exploit an invention, patent, or any other form of intellectual property owned by SURF. 2. Technology Transfer Exclusive License Agreement: This type of agreement grants emerge Interactive exclusive rights to transfer, commercialize, and develop a particular technology created by SURF. 3. Software Exclusive License Agreement: If the licensed technology involves software, this agreement grants emerge Interactive exclusive rights to use, develop, modify, and distribute the software within Oklahoma, while SURF retains ownership. 4. Research and Development Exclusive License Agreement: In situations where the licensed technology requires further development or research, this agreement provides emerge Interactive the exclusive right to carry out these activities and bring the technology to fruition. Overall, the Oklahoma Exclusive License Agreement between SURF and emerge Interactive ensures a mutually beneficial relationship wherein SURF benefits from commercializing its inventions and technologies, while emerge Interactive gains exclusive rights to exploit and profit from the licensed technology within the state of Oklahoma.
Oklahoma Exclusive License Agreement between Iowa State University Research Foundation, Inc. and eMerge Interactive, Inc.
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