Chicago Illinois Technology License Agreement with a Research Organization as Licensor

• Category: Technology - Licenses
• State: Multi-State
• City: Chicago
• Control #: US-02633BG
• Format: Word; Rich Text

Description

By a technology licensing agreement the licensor authorizes the licensee to use the technology under certain agreed terms and conditions. It is, therefore, a contract freely entered into between two parties and contains terms and conditions so agreed. This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction. Chicago Illinois Technology License Agreement with a Research Organization as Licensor A Chicago Illinois Technology License Agreement with a Research Organization as Licensor is a legal agreement that outlines the terms and conditions under which a research organization grants permission or license to a third party (the licensee) to use, commercialize, or further develop its technology. This agreement allows the licensee to leverage the research organization's intellectual property, know-how, or patented technology for specific purposes as outlined in the agreement. Key terms and provisions typically included in a Chicago Illinois Technology License Agreement may include: 1. Grant of License: The research organization, acting as the licensor, grants the licensee a non-exclusive or exclusive license to use the intellectual property or technology for a specified scope and duration. This section defines the rights and limitations of the licensee's use. 2. Intellectual Property Ownership: Specifies the ownership rights of the licensed technology and intellectual property. It establishes that the licensor retains ownership of the IP, and the licensee gains limited rights to use it. 3. License Fee and Royalties: This section outlines any upfront license fees, ongoing royalties, or revenue-sharing arrangements between the licensor and licensee. It may also specify any milestone payments or performance-based incentives. 4. Scope of Allowed Use: Defines the specific field or industry in which the licensee can use the technology. It may include restrictions on geographic location, market segment, or specific product categories. 5. Sublicensing and Transferability: Identifies whether the licensee has the right to sublicense the technology to a third party or transfer the license to another entity. It may include conditions and approvals required for such sublicenses or transfers. 6. Confidentiality and Non-Disclosure: Outlines the obligations of the licensee to maintain the confidentiality of any proprietary information shared by the licensor during the agreement period. It establishes that any confidential information shared by either party remains the property of the disclosing party. 7. Indemnification and Liability: Specifies the responsibilities of the licensee regarding potential infringement claims or damages resulting from its use of the licensed technology. It may include provisions for indemnification or limitations of liability. 8. Termination and Expiration: Outlines the conditions for termination or expiration of the agreement. It may include events such as breach of contract, non-payment, or completion of the agreed-upon term. Types of Chicago Illinois Technology License Agreements with a Research Organization as Licensor: 1. Exclusive License Agreement: Grants the licensee exclusive rights to use the licensed technology within a defined field or industry, thereby preventing the licensor from granting licenses to other parties. 2. Non-Exclusive License Agreement: Allows the licensor to grant licenses for the same technology to multiple licensees, providing each licensee with non-exclusive rights to use and commercialize the technology. 3. Research Collaboration Agreement: A specialized type of license agreement where the research organization and licensee collaborate on further development or enhancement of the licensed technology. This agreement may include provisions for joint research funding, sharing of results, or contributions from both parties. 4. Option Agreement: Provides the licensee with the opportunity to secure a future license to the technology. This agreement usually includes upfront fees for the right to obtain a license within a specified timeframe. In summary, a Chicago Illinois Technology License Agreement with a Research Organization as Licensor is a contractual agreement that defines the terms and conditions for the licensing of technology from a research organization. It outlines the rights, obligations, and restrictions for both the licensor and licensee involved in the commercialization or further development of the licensed technology.

Chicago Illinois Technology License Agreement with a Research Organization as Licensor A Chicago Illinois Technology License Agreement with a Research Organization as Licensor is a legal agreement that outlines the terms and conditions under which a research organization grants permission or license to a third party (the licensee) to use, commercialize, or further develop its technology. This agreement allows the licensee to leverage the research organization's intellectual property, know-how, or patented technology for specific purposes as outlined in the agreement. Key terms and provisions typically included in a Chicago Illinois Technology License Agreement may include: 1. Grant of License: The research organization, acting as the licensor, grants the licensee a non-exclusive or exclusive license to use the intellectual property or technology for a specified scope and duration. This section defines the rights and limitations of the licensee's use. 2. Intellectual Property Ownership: Specifies the ownership rights of the licensed technology and intellectual property. It establishes that the licensor retains ownership of the IP, and the licensee gains limited rights to use it. 3. License Fee and Royalties: This section outlines any upfront license fees, ongoing royalties, or revenue-sharing arrangements between the licensor and licensee. It may also specify any milestone payments or performance-based incentives. 4. Scope of Allowed Use: Defines the specific field or industry in which the licensee can use the technology. It may include restrictions on geographic location, market segment, or specific product categories. 5. Sublicensing and Transferability: Identifies whether the licensee has the right to sublicense the technology to a third party or transfer the license to another entity. It may include conditions and approvals required for such sublicenses or transfers. 6. Confidentiality and Non-Disclosure: Outlines the obligations of the licensee to maintain the confidentiality of any proprietary information shared by the licensor during the agreement period. It establishes that any confidential information shared by either party remains the property of the disclosing party. 7. Indemnification and Liability: Specifies the responsibilities of the licensee regarding potential infringement claims or damages resulting from its use of the licensed technology. It may include provisions for indemnification or limitations of liability. 8. Termination and Expiration: Outlines the conditions for termination or expiration of the agreement. It may include events such as breach of contract, non-payment, or completion of the agreed-upon term. Types of Chicago Illinois Technology License Agreements with a Research Organization as Licensor: 1. Exclusive License Agreement: Grants the licensee exclusive rights to use the licensed technology within a defined field or industry, thereby preventing the licensor from granting licenses to other parties. 2. Non-Exclusive License Agreement: Allows the licensor to grant licenses for the same technology to multiple licensees, providing each licensee with non-exclusive rights to use and commercialize the technology. 3. Research Collaboration Agreement: A specialized type of license agreement where the research organization and licensee collaborate on further development or enhancement of the licensed technology. This agreement may include provisions for joint research funding, sharing of results, or contributions from both parties. 4. Option Agreement: Provides the licensee with the opportunity to secure a future license to the technology. This agreement usually includes upfront fees for the right to obtain a license within a specified timeframe. In summary, a Chicago Illinois Technology License Agreement with a Research Organization as Licensor is a contractual agreement that defines the terms and conditions for the licensing of technology from a research organization. It outlines the rights, obligations, and restrictions for both the licensor and licensee involved in the commercialization or further development of the licensed technology.