Title: Exploring the Kansas Exclusive License Agreement between Iowa State University Research Foundation, Inc. and emerge Interactive, Inc. Keywords: Kansas, exclusive license agreement, Iowa State University Research Foundation, emerge Interactive, types Introduction: The Kansas Exclusive License Agreement between Iowa State University Research Foundation, Inc. and emerge Interactive, Inc. is a legally binding agreement that grants emerge Interactive the exclusive rights to develop, manufacture, and commercialize a product or technology developed by the Research Foundation. This detailed description aims to shed light on the significance, process, and potential types of such agreements. 1. Overview of the Agreement: The Kansas Exclusive License Agreement serves as a crucial framework that establishes the rights and obligations of both parties involved: Iowa State University Research Foundation, Inc. (the licensor) and emerge Interactive, Inc. (the licensee). This agreement enables emerge Interactive to utilize the intellectual property developed by the university for specific purposes. 2. Application and Approval Process: The agreement is typically initiated after Iowa State University Research Foundation identifies a potentially patentable invention or technology originating from their research activities. Once the invention is evaluated and deemed viable, negotiations for an exclusive license with emerge Interactive are conducted, and specific terms are agreed upon to protect the inventor's rights and facilitate commercialization. 3. Scope of Exclusive License Agreement: It is important to note that the terms and conditions of the Kansas Exclusive License Agreement can vary depending on the specific invention, the desires of the licensor, and the capabilities and intentions of the licensee. While the core goal remains the exclusive rights to commercialize the invention, there may be additional parameters included, such as territorial limitations, time duration, royalty payments, and performance milestones. 4. Potential Additional Types of Kansas Exclusive License Agreements: a) Exclusive Field-of-Use License: This type of license agreement restricts emerge Interactive's exclusivity to a specific field or application of the invention. For example, if the invention has potential applications in both the medical and agricultural sectors, separate licenses may be negotiated for each field. b) Exclusive Territory License: In some cases, the license agreement may grant emerge Interactive exclusive rights to develop and commercialize the invention within a specific geographical region, such as Kansas or other pre-defined areas. This strategy can help facilitate focused market penetration and facilitate effective distribution channels. c) Exclusive Reverse License: In rare situations, if emerge Interactive has a complementary invention or technology that would enhance the original invention, the Exclusive License Agreement may include provisions allowing Iowa State University Research Foundation to utilize the licensee's technology under certain circumstances. This reciprocal arrangement can foster collaboration and further innovation. Conclusion: The Kansas Exclusive License Agreement between Iowa State University Research Foundation, Inc. and emerge Interactive, Inc. provides emerge Interactive with exclusive rights to exploit an invention or technology developed by the university for commercial purposes. The agreement serves as a vital tool to bridge the gap between academic research and practical applications, unlocking innovation and fostering economic growth. It is essential for both parties to engage in thorough negotiations to define the scope, limitations, and potential additional types of agreements to ensure a mutually beneficial and successful partnership.
Kansas Exclusive License Agreement between Iowa State University Research Foundation, Inc. and eMerge Interactive, Inc.
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FAQ
Exclusive license allows a licensor to share intellectual property with a licensee for a specific period of time that usually binds the licensor to not share the property with anyone else.
These are some common types of licensing agreements: Trademark license - outlines how you may use a trademark Patent license - outlines your right to sell, use, make distribute and export a product that is patented Copyright license - outlines your right to reproduce and sell copyrighted assets.
The key difference between a license and an assignment is that an assignment transfers rights away from the original copyright or patent holder. Whereas the licensor retains ownership of the intellectual property rights, the assignor gives up the rights entirely.
A licence is analogous to the renting of a flat whereby the tenant is granted permission to use the flat for an agreed period of time. A licence can be exclusive or non-exclusive. An exclusive licence is one where the licensed right is exercisable only by the licensee and no one else (including the licensor).
An Exclusive Licence means that no person or company other than the named licensee can exploit the relevant intellectual property rights. Importantly, the licensor is also excluded from exploiting the intellectual property rights.
Exclusive license allows a licensor to share intellectual property with a licensee for a specific period of time that usually binds the licensor to not share the property with anyone else.