Pennsylvania 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).

Pennsylvania Agreement between Inventor and Manufacturer Granting License to Manufacture Products from Invention is a legal contract that establishes a partnership between an inventor and a manufacturer for the production of goods based on the inventor's invention. This agreement grants the manufacturer the right to manufacture, distribute, and sell products derived from the inventor's invention, while allowing the inventor to retain ownership of the intellectual property rights. In Pennsylvania, there are a few different types of agreements that can be used to formalize the relationship between an inventor and a manufacturer. These include: 1. Exclusive License Agreement: This type of agreement grants the manufacturer exclusive rights to manufacture and sell products based on the inventor's invention. It ensures that no other party will be given permission to produce or sell goods derived from the invention. 2. Non-Exclusive License Agreement: Unlike the exclusive license agreement, this type of agreement allows the inventor to grant licenses to multiple manufacturers simultaneously. It permits the inventor to explore different production and distribution channels while maintaining control over the invention's use. 3. Royalty Agreement: This agreement specifies the percentage or amount of royalties the inventor will receive from the manufacturer for each product sold. It ensures that the inventor is compensated for the use of their invention, usually in the form of a percentage of sales or a fixed amount per unit sold. 4. Technology Transfer Agreement: This agreement encompasses not only the license to manufacture products but also the transfer of technological knowledge and expertise from the inventor to the manufacturer. It may include provisions for training, technical support, and ongoing collaboration between the parties. In all Pennsylvania agreements between an inventor and a manufacturer granting a license to manufacture products from an invention, certain key elements should be included. These include: 1. Identification of the parties involved, including their legal names and addresses. 2. A detailed description of the invention, including any relevant patents or intellectual property rights. 3. Terms and conditions governing the manufacturing, distribution, and sale of the products. 4. Payment terms, including royalties, upfront fees, and any other financial considerations. 5. Duration of the agreement, including any renewal or termination provisions. 6. Protocols for resolving disputes or disagreements that may arise during the partnership. 7. Provisions regarding confidentiality and the protection of trade secrets. 8. Indemnification clauses, outlining responsibilities and liabilities of both parties. 9. Governing law and jurisdiction, specifying that Pennsylvania law applies to the agreement. In conclusion, a Pennsylvania Agreement between Inventor and Manufacturer Granting License to Manufacture Products from Invention is a vital contract that formalizes the partnership between an inventor and a manufacturer. Whether it is an exclusive or non-exclusive license agreement, a royalty agreement, or a technology transfer agreement, these contracts lay out the terms and conditions governing the production and sale of goods derived from the inventor's invention. Taking into account the specific needs and objectives of the parties involved, these agreements ensure a mutually beneficial collaboration while safeguarding the inventor's intellectual property rights.