Delaware Agreement between Inventor and Manufacturer Granting License to Manufacture Products from Invention

• Category: Contracts - Inventions
• State: Multi-State
• Control #: US-1036BG
• Format: Word; Rich Text

Description

An invention is a new composition, device, or process. Invention can also be defined to include creative endeavors that extend beyond original, substantial improvements. An invention is also a new, useful, and nonobvious improvement of a process, machine, or product. Any invention which is new, useful, and nonobvious improvement of process can be patented. Inventions that involve processes, machines, manufactures, and compositions of matter, and any improvement thereof, are patentable. A license is a contractual right that gives someone permission to do a certain activity or to use certain property owned by someone else. Licensing agreement is an agreement between two enterprises allowing one to sell the other's property such as products or services and to use their name, sales literature, trademarks, copyrights, etc. in a limited manner. Besides license agreement terms, federal laws provide stiff civil and criminal penalties for pirating and other unauthorized use of other's property. A patent is a grant of a property right by the Government to an inventor. The United States Constitution gives Congress the right to provide for patent protection in legislation in order to encourage useful inventions. The patent itself provides a detailed description of the invention, and how it is used or how to make it. • how many inventions it has evaluated; • how many of those inventions got positive or negative evaluations (legitimate companies will have a fairly low acceptance rate, usually under 5%); • its total number of customers; • how many of those customers received a net financial profit from the promoter's services (that is, the number of clients who made more money from their invention than they paid to the company); and • how many of those customers have licensed their inventions due to the promoter's services (if the success rate is too low, between 2 and 5%, the company's services may not be worth your out-of-pocket expenses).

A Delaware Agreement between Inventor and Manufacturer Granting License to Manufacture Products from Invention is a legal document that outlines the terms and conditions for a licensing agreement between an inventor and a manufacturer in the state of Delaware. This agreement allows the manufacturer to legally produce and sell products based on the inventor's patented or copyrighted invention. By entering into this agreement, the inventor grants the manufacturer the rights to manufacture, distribute, and market the products in exchange for financial compensation, typically in the form of royalties. This type of agreement is often used when an inventor does not have the resources or expertise to manufacture and market their invention on their own. By partnering with a manufacturer, the inventor can benefit from their manufacturing capabilities, distribution networks, and marketing expertise, while also receiving a share of the profits generated from the sale of the products. The Delaware Agreement between Inventor and Manufacturer Granting License to Manufacture Products from Invention typically includes the following key provisions: 1. Grant of License: This section outlines the specific rights being granted to the manufacturer, including the scope of the license, the duration of the agreement, and any limitations or restrictions. 2. Royalties and Payments: The agreement will detail the royalty rate or payment structure that the manufacturer will pay to the inventor for the use of their invention. This may be a flat fee, a percentage of sales, or a combination of both. 3. Intellectual Property Rights: The agreement will address the ownership and protection of intellectual property rights, including patents, copyrights, trademarks, and trade secrets. It will outline how these rights will be maintained and who is responsible for any legal action if infringement occurs. 4. Quality Control: To protect the reputation and integrity of the invention, the agreement will include provisions for quality control standards that the manufacturer must adhere to during the manufacturing process. 5. Term and Termination: This section specifies the duration of the agreement and the circumstances under which either party can terminate the agreement, such as breach of contract or failure to meet obligations. 6. Confidentiality: The agreement may include provisions to ensure the confidentiality of any proprietary information or trade secrets shared between the inventor and the manufacturer. This helps protect the inventor's invention from being disclosed or used by unauthorized parties. While a Delaware Agreement between Inventor and Manufacturer Granting License to Manufacture Products from Invention is a broad term, there may be different types of agreements based on the specific circumstances or requirements of the inventor and manufacturer. For example: 1. Exclusive License Agreement: In this type of agreement, the inventor grants the manufacturer exclusive rights to manufacture and sell the products within a specific territory or market segment. This restricts the inventor from granting licenses to other manufacturers or competing with the manufacturer within the agreed-upon terms. 2. Non-Exclusive License Agreement: In contrast, a non-exclusive license agreement allows the inventor to grant licenses to multiple manufacturers simultaneously. This gives the inventor the flexibility to work with different manufacturers in different markets or segments. 3. International License Agreement: This type of agreement is specifically tailored for inventors and manufacturers operating in different countries. It addresses the unique challenges and legal considerations involved in cross-border licensing, such as intellectual property protection, currency conversions, and regulatory compliance. In conclusion, a Delaware Agreement between Inventor and Manufacturer Granting License to Manufacture Products from Invention is a crucial legal document that facilitates collaboration between inventors and manufacturers for the production and commercialization of inventions. By addressing all the necessary provisions, such as licensing terms, royalties, intellectual property rights, quality control, and confidentiality, this agreement ensures a mutually beneficial arrangement between both parties.