Basic Licensing Agreement

Harvard also offers option agreements for companies considering licensing a Harvard technology. An option agreement allows a company to “retain” a technology for a short period of time, during which time the company can continue to assess its potential or raise funds for product development without binding on the obligations of a licensing agreement or Harvard. Options typically have a term of six months to one year and typically require both a pre-fee and a refund of the patent application for the duration of the option. If you are interested in licensing your intellectual property, the license agreement is an important legal document to protect your assets from abuse by another party. It is important that, as a licensor, you accurately identify the licensee to ensure that your rights are protected, even if the licensee transfers its transferred rights to a subsidiary or parent company without your explicit consent. Determine the property first. If you sell or purchase a license for a product, make sure that ownership of that product is clearly stated in the agreement. Also, make sure that no one else is using the asset (for example. B a trademark) and obtain that the trademark is registered or the registration of a copyright. You don`t want to get into a license agreement and find out that someone else is questioning the property.

Knowing how to obtain a license agreement can be very useful if you want to allow other parties to use your intellectual property (IP) for merchandising purposes or purely production-related purposes. Such agreements are useful when a party wishes to promote its trademark through binding goods of another party, if it has a product idea but has no means or desire to produce it, or if it has a trade secret procedure from which it can benefit by granting it to other parties. A licensing agreement clearly defines how the intellectual property may be used by the licensee and how the licensor is compensated. Non-competition. The licensor undertakes not to allow anyone to compete with the licence in the area and period specified in the agreement. A license agreement allows you to define the terms and ways to use your valuable intellectual property by someone else. It is recommended that you go to an experienced mental law lawyer before entering into an agreement with another party, as you want to make sure that you are not exploited and that you get the maximum amount for your creative work. A license for Harvard`s own patent rights is subject to conditions similar to those set forth in the form agreements in the following links. Some terms can be changed to address unique aspects of each situation. In particular, financial conditions shall be determined on the basis of the technology to be granted, the licensee`s business model and market standards in the sector in which the licensee operates. A license agreement may contain complex terms of use or simply outline the compensation you want from another party for the use of your property.

The important element of the contract is that you only give the other party the right to use your property and that all ownership rights remain with you. Whether you have your rights to others for branding, written content that can be used in marketing or training materials, or if you have developed technologies used in POS systems or in inventory tracking, the fundamental elements of the agreement are the same…