A West Virginia Exclusive License Agreement refers to a legally binding contract between Iowa State University Research Foundation, Inc. and emerge Interactive, Inc., outlining the terms and conditions for the exclusive use of intellectual property or technology developed by the university. The agreement grants emerge Interactive, Inc. the exclusive rights to commercialize, produce, and distribute the specified intellectual property within the state of West Virginia. This agreement is usually established to protect and maximize the potential of innovations and research outcomes generated at Iowa State University. Key terms and provisions commonly found in a West Virginia Exclusive License Agreement may include: 1. License Grant: The agreement specifies the precise technology, patent, or product covered by the license and grants emerge Interactive, Inc. the exclusive right to utilize, develop, and market it within West Virginia. 2. Term and Termination: The agreement typically outlines the duration of the license, including any renewal options. It also covers the circumstances under which either party can terminate the agreement, such as breach of contractual obligations. 3. Royalties and Compensation: The license agreement may outline the financial obligations of emerge Interactive, Inc. towards Iowa State University Research Foundation, Inc. This may include upfront fees, milestone payments, and ongoing royalties based on sales or other predetermined factors. 4. Intellectual Property Rights: The agreement should specify the ownership of intellectual property developed as a result of the collaboration between the parties. It may contain provisions for protecting the university's rights and regulating the use of its name and logo. 5. Diligence and Performance: The agreement generally includes provisions that require emerge Interactive, Inc. to diligently develop, market, and diligently promote the licensed technology or product. Failure to meet these obligations might result in termination or a loss of exclusive rights. 6. Reporting and Auditing: The license agreement usually necessitates regular reporting of sales, earnings, or other relevant metrics bye Merge Interactive, Inc. to Iowa State University Research Foundation, Inc. Additionally, the university typically retains the right to audit the licensee's records to ensure compliance with the terms. 7. Indemnification and Liability: The agreement often specifies the extent of liability for each party in case of any intellectual property infringement or other legal disputes arising from the use or implementation of the licensed technology. Different types of West Virginia Exclusive License Agreements between Iowa State University Research Foundation, Inc. and emerge Interactive, Inc. might exist depending on the specific innovation or technology being licensed. Examples may include agreements for software patents, medical device designs, agricultural advancements, or biotechnological breakthroughs. Each type of agreement would outline the unique details related to the licensed technology, corresponding royalties, and any specialized considerations required. Note: The specific terms and variations of a West Virginia Exclusive License Agreement may differ in practice and should always be thoroughly discussed and negotiated between the parties involved, considering the legal advice of relevant professionals.
West Virginia Exclusive License Agreement between Iowa State University Research Foundation, Inc. and eMerge Interactive, Inc.
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How to fill out West Virginia Exclusive License Agreement Between Iowa State University Research Foundation, Inc. And EMerge Interactive, Inc.?
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These are some common types of licensing agreements: Trademark license - outlines how you may use a trademark Patent license - outlines your right to sell, use, make distribute and export a product that is patented Copyright license - outlines your right to reproduce and sell copyrighted assets.
A licence is analogous to the renting of a flat whereby the tenant is granted permission to use the flat for an agreed period of time. A licence can be exclusive or non-exclusive. An exclusive licence is one where the licensed right is exercisable only by the licensee and no one else (including the licensor).
The key difference between a license and an assignment is that an assignment transfers rights away from the original copyright or patent holder. Whereas the licensor retains ownership of the intellectual property rights, the assignor gives up the rights entirely. Assignments and Licensing of Intellectual Property - KPPB LAW kppblaw.com ? intellectual-property ? assig... kppblaw.com ? intellectual-property ? assig...
Exclusive license allows a licensor to share intellectual property with a licensee for a specific period of time that usually binds the licensor to not share the property with anyone else. exclusive license | Wex | US Law | LII / Legal Information Institute cornell.edu ? wex ? exclusive_license cornell.edu ? wex ? exclusive_license
An Exclusive Licence means that no person or company other than the named licensee can exploit the relevant intellectual property rights. Importantly, the licensor is also excluded from exploiting the intellectual property rights.
Exclusive license allows a licensor to share intellectual property with a licensee for a specific period of time that usually binds the licensor to not share the property with anyone else.