Nebraska 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).

The Nebraska Agreement between Inventor and Manufacturer Granting License to Manufacture Products from Invention is a legally binding document that outlines the terms and conditions under which an inventor grants a manufacturer the right to produce and sell products based on their invention. This agreement is designed to protect the intellectual property rights of the inventor while allowing the manufacturer to benefit from the commercialization of the invention. The agreement typically includes the following elements: 1. Parties: Clearly identifies the parties involved in the agreement — the inventor and the manufacturer. This section provides their legal names, addresses, and contact information. 2. Recitals: States the purpose of the agreement, including a brief description of the invention and the intention of the parties to enter into a license agreement. 3. Grant of License: Specifies the exclusive or non-exclusive license granted by the inventor to the manufacturer. The scope of the license is defined, including any limitations, territories, or specific fields of use in which the manufacturer is permitted to operate. 4. Royalties and Payment Terms: Outlines the financial arrangements between the parties. This includes details of any upfront fees, ongoing royalties, or profit-sharing arrangements. The payment terms, such as due dates and methods, are specified here as well. 5. Manufacturing Standards: Sets forth the quality standards and specifications that the manufacturer must adhere to when producing the products based on the invention. This ensures that the inventor's reputation and brand image are maintained. 6. Intellectual Property Rights: Clarifies the ownership and protection of any patents, trademarks, copyrights, or other intellectual property related to the invention. It may address the handling of any improvements or modifications made to the invention during the manufacturing process. 7. Term and Termination: States the duration of the agreement, including any renewal or termination provisions. This section may elaborate on the conditions under which either party can terminate the agreement, such as breach of contract or failure to meet production or sales targets. 8. Confidentiality: Includes provisions to protect the confidentiality of any proprietary information shared between the parties during the agreement. It obligates the manufacturer to maintain the confidentiality of trade secrets, know-how, and any sensitive business-related information. 9. Dispute Resolution: Specifies the process for resolving any disagreements or disputes that may arise during the term of the agreement. Mediation, arbitration, or litigation procedures may be outlined to provide a roadmap for conflict resolution. 10. Governing Law: Determines the jurisdiction and laws that govern the agreement. This section clarifies where any legal disputes will be settled. Different types of Nebraska Agreement between Inventor and Manufacturer Granting License to Manufacture Products from Invention may include exclusive licenses, where the inventor grants only one manufacturer the right to produce and sell the invention. Non-exclusive licenses allow multiple manufacturers to produce and sell the invention simultaneously. Additionally, the agreement may vary based on the specific industry, product type, or any unique terms negotiated between the parties.