marketable and is licensed or otherwise disposed for use by the pubic.
A Wisconsin Technology Licensing Agreement is a legal agreement that governs the terms and conditions under which a technology or intellectual property (IP) owner grants permission to another party to use, sell, or distribute their technology in the state of Wisconsin. This agreement establishes the rights and obligations of both the licensor (technology owner) and licensee (technology user). The agreement typically includes various provisions related to the licensed technology, such as the scope of the license, permitted uses, exclusivity, territorial restrictions, payment terms, royalties, duration, termination, and dispute resolution. It aims to protect the rights of the licensor while allowing the licensee to benefit from the licensed technology. In Wisconsin, there are different types of Technology Licensing Agreements that can be used in various circumstances, depending on the nature of the technology and the intentions of the parties involved: 1. Exclusive Licensing Agreement: This agreement grants a licensee the sole and exclusive right to use and exploit the technology within a specific field or geographical area, while the licensor retains ownership rights. 2. Non-Exclusive Licensing Agreement: In this type of agreement, the licensor grants multiple licensees the right to use the technology simultaneously, allowing for broader access and potential distribution. 3. Sole Licensing Agreement: A sole licensing agreement gives the licensee the exclusive right to use and exploit the technology, but the licensor retains the right to use the technology as well. 4. Sub-Licensing Agreement: This agreement allows the original licensee to grant a sublicense to third parties, enabling them to use the licensed technology. The sublicense is typically subject to the terms and conditions of the original licensing agreement. 5. University Licensing Agreement: Wisconsin is home to several prestigious universities and research institutions, which often enter into licensing agreements to commercialize their innovative technologies. University licensing agreements outline the rights and obligations of the university and the licensee in utilizing and commercializing the technology. 6. Start-up Licensing Agreement: Start-ups or small businesses may enter into licensing agreements to obtain rights to use and develop certain technologies, potentially allowing them to launch innovative products or services. It is crucial for both parties involved in a Wisconsin Technology Licensing Agreement to seek legal counsel to ensure that the agreement meets their specific needs and adequately protects their rights and intellectual property.
