Wake North Carolina Services Agreement between The University of Memphis and UTEK Corp. regarding commercial development of specific intellectual property and technology

• Category: Corporations - Public - Services
• State: Multi-State
• County: Wake
• Control #: US-EG-9435
• Format: Word; Rich Text

Description

Services Agreement between The University of Memphis and UTEK Corporation regarding the commercial development of specific intellectual property and technology that is developed, invented or discovered at the University and building a bridge between The Wake North Carolina Services Agreement between The University of Memphis and UTE Corp. is a comprehensive and legally binding contract that outlines the terms and conditions for the commercial development of specific intellectual property and technology. This agreement serves as a collaboration between the academic expertise of The University of Memphis and the commercialization capabilities of UTE Corp, facilitating the transformation of innovative research into practical and marketable products or services. The key objective of this agreement is to foster the commercialization of intellectual property and technology developed by The University of Memphis through effective strategic planning, resource allocation, and commercialization processes. By leveraging the research capabilities and expertise of the university and the commercialization experience and resources of UTE Corp, this partnership aims to maximize the value and impact of the intellectual property and technology in the marketplace. Some important components covered in this agreement include: 1. Intellectual Property Rights: The agreement establishes the ownership and protection of the intellectual property generated during the course of the collaboration. It defines the ownership rights of The University of Memphis and the licensing or assignment of such rights to UTE Corp for commercialization purposes. 2. Commercialization Plan: It outlines the strategies, procedures, and timeline for bringing the intellectual property and technology to market. This may include market analysis, product development, marketing and sales strategies, financing options, and other relevant commercialization activities. 3. Funding and Resources: The agreement specifies the financial terms and obligations of both parties in supporting the commercialization efforts. It may include provisions for funding research and development activities, technology transfer, patent filing, marketing and promotional campaigns, and other commercialization-related expenses. 4. Royalties and Revenue Sharing: The agreement addresses the revenue-sharing arrangements between The University of Memphis and UTE Corp. This includes the distribution of revenues generated from licensing agreements, sales of products or services, royalties, milestones, and other revenue streams associated with the commercial success of the intellectual property and technology. 5. Reporting and Monitoring: The agreement establishes mechanisms for regular reporting and monitoring of the commercialization progress. It may require periodic updates, financial reporting, technology transfer milestones, and other performance indicators to ensure effective collaboration and accountability. Different types of Wake North Carolina Services Agreements between The University of Memphis and UTE Corp. regarding commercial development of specific intellectual property and technology may include variations in terms based on the specific nature of the intellectual property, the sector or industry targeted for commercialization, and the financial or technological resources allocated for the endeavor. These types of agreements could include specific provisions for software development, medical device commercialization, biotechnology applications, or other areas of focus within the realm of intellectual property and technology commercialization.

The Wake North Carolina Services Agreement between The University of Memphis and UTE Corp. is a comprehensive and legally binding contract that outlines the terms and conditions for the commercial development of specific intellectual property and technology. This agreement serves as a collaboration between the academic expertise of The University of Memphis and the commercialization capabilities of UTE Corp, facilitating the transformation of innovative research into practical and marketable products or services. The key objective of this agreement is to foster the commercialization of intellectual property and technology developed by The University of Memphis through effective strategic planning, resource allocation, and commercialization processes. By leveraging the research capabilities and expertise of the university and the commercialization experience and resources of UTE Corp, this partnership aims to maximize the value and impact of the intellectual property and technology in the marketplace. Some important components covered in this agreement include: 1. Intellectual Property Rights: The agreement establishes the ownership and protection of the intellectual property generated during the course of the collaboration. It defines the ownership rights of The University of Memphis and the licensing or assignment of such rights to UTE Corp for commercialization purposes. 2. Commercialization Plan: It outlines the strategies, procedures, and timeline for bringing the intellectual property and technology to market. This may include market analysis, product development, marketing and sales strategies, financing options, and other relevant commercialization activities. 3. Funding and Resources: The agreement specifies the financial terms and obligations of both parties in supporting the commercialization efforts. It may include provisions for funding research and development activities, technology transfer, patent filing, marketing and promotional campaigns, and other commercialization-related expenses. 4. Royalties and Revenue Sharing: The agreement addresses the revenue-sharing arrangements between The University of Memphis and UTE Corp. This includes the distribution of revenues generated from licensing agreements, sales of products or services, royalties, milestones, and other revenue streams associated with the commercial success of the intellectual property and technology. 5. Reporting and Monitoring: The agreement establishes mechanisms for regular reporting and monitoring of the commercialization progress. It may require periodic updates, financial reporting, technology transfer milestones, and other performance indicators to ensure effective collaboration and accountability. Different types of Wake North Carolina Services Agreements between The University of Memphis and UTE Corp. regarding commercial development of specific intellectual property and technology may include variations in terms based on the specific nature of the intellectual property, the sector or industry targeted for commercialization, and the financial or technological resources allocated for the endeavor. These types of agreements could include specific provisions for software development, medical device commercialization, biotechnology applications, or other areas of focus within the realm of intellectual property and technology commercialization.