North Dakota 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
• 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

North Dakota Services Agreement between The University of Memphis and UTE Corp. is a legal document outlining the terms and conditions for the commercial development of specific intellectual property and technology between the two parties. This agreement aims to promote collaboration, protect intellectual property rights, and establish a mutually beneficial partnership to maximize commercial outcomes. Below is a detailed description of the elements and keywords relevant to this Services Agreement. 1. Parties involved: The University of Memphis, a renowned educational institution located in Memphis, Tennessee, and UTE Corp., a technology transfer and commercialization company based in North Dakota. 2. Objective of the Agreement: The primary goal of this agreement is to establish a framework for cooperation between the University of Memphis and UTE Corp. in the commercial development of specific intellectual property and technology. It aims to leverage the expertise and resources of both parties to bring innovative ideas to market. 3. Intellectual Property: The agreement defines the specific intellectual property to be developed and commercialized. This may include, but is not limited to, inventions, patents, trademarks, copyrights, software, and any related know-how or confidential information. 4. Commercial Development: The agreement outlines the responsibilities and obligations of each party regarding the commercialization of the intellectual property. It includes provisions for research and development, marketing and sales strategies, funding and investment, and potential licensing or sublicensing of the technology. 5. Technology Transfer: The agreement establishes a mechanism for the transfer of technology from the University of Memphis to UTE Corp. This may involve sharing technical information, research data, prototypes, or any other relevant information required for successful commercialization. 6. Financial Considerations: The Services Agreement addresses financial aspects, such as funding, royalties, revenue sharing, and ownership of resultant Intellectual Property, ensuring a fair and equitable distribution of financial benefits derived from the commercialization efforts. 7. Term and Termination: The agreement specifies the duration of the collaboration and conditions under which either party can terminate the agreement. It may include provisions for dispute resolution and the handling of confidential information after termination. Types of North Dakota Services Agreements between The University of Memphis and UTE Corp.: 1. Research and Development Services Agreement: This type of agreement focuses on the collaboration between the University of Memphis and UTE Corp. in conducting research and development activities to enhance or modify existing intellectual property and technology. 2. Licensing Services Agreement: This agreement centers around the licensing of intellectual property from the University of Memphis to UTE Corp., granting the latter the rights to commercialize and exploit the specific technology for a predetermined period. 3. Joint Venture Services Agreement: In this type of agreement, the University of Memphis and UTE Corp. form a joint venture to pool their resources and expertise, sharing the risks and rewards associated with the commercial development of intellectual property and technology. 4. Distribution Services Agreement: This agreement entails the University of Memphis partnering with UTE Corp. to distribute and market the specific intellectual property or technology, either domestically or internationally, ensuring wider market reach and penetration. In summary, the North Dakota Services Agreement between The University of Memphis and UTE Corp. facilitates the commercial development of intellectual property and technology, enabling both parties to collaborate effectively, protect their rights, and capitalize on the innovative ideas generated through the partnership.