Patent Time Period

• Category: Copyrights Patents and Trademarks - Licensing
• State: Multi-State
• Control #: US-0564BG
• Format: Word; Rich Text

Description

The Exclusive License Agreement for Patent with Schedule of Royalties is designed to facilitate the transfer of patent rights between a Licensor and a Licensee in the United States. It primarily discusses the patent time period, detailing the exclusive rights granted to the Licensee to manufacture, sell, and use the patented invention for the duration of the patent's validity. Key features include the grant of license, representation of ownership, and a clearly defined royalty payment schedule that adjusts based on sales volume. Filling and editing instructions emphasize the importance of accurately detailing dates and monetary amounts, ensuring that all parties are aware of their obligations and rights. The form is particularly beneficial for attorneys and paralegals who navigate intellectual property agreements, as well as for business owners and associates looking to establish clear terms of use while leveraging patented technologies. It serves as a guideline for proper documentation and compliance, aiding legal assistants in efficiently managing these agreements. Additionally, the framework allows for the potential termination of the agreement and outlines necessary procedures in case of patent invalidity, thus protecting the interests of both parties.