Washington 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).

Washington Agreement between Inventor and Manufacturer Granting License to Manufacture Products from Invention is a legally binding contract that outlines the terms and conditions between an inventor and a manufacturer for the licensing of the invention for manufacturing purposes. This agreement aims to protect the rights of both parties involved and ensure a fair and mutually beneficial business relationship. The Washington Agreement sets out the specific details regarding the licensing arrangement, including the scope of the license, the territory in which the manufacturer can produce and sell the products, and the duration of the agreement. It also addresses important clauses such as payment terms, royalties, intellectual property ownership, confidentiality, and dispute resolution mechanisms. Keywords: Washington Agreement, inventor, manufacturer, license, manufacturing agreement, invention, products, licensing arrangement, scope, territory, duration, payment terms, royalties, intellectual property, confidentiality, dispute resolution. Types of Washington Agreement between Inventor and Manufacturer Granting License to Manufacture Products from Invention: 1. Exclusive License Agreement: This type of agreement grants the manufacturer exclusive rights to manufacture and sell the products based on the invention within a defined territory. No other licensee or even the inventor can compete in this territory during the agreement's duration. 2. Non-Exclusive License Agreement: This agreement allows multiple manufacturers to license the invention and produce the products simultaneously. The inventor can grant licenses to several manufacturers, enabling broader market reach and increased production. 3. Royalty-Free License Agreement: In this type of agreement, the inventor grants the manufacturer the right to manufacture and sell the products without requiring any royalties or financial compensation. It is often used when the inventor has a particular interest in promoting widespread use and distribution of the invention. 4. Limited License Agreement: This agreement restricts the manufacturing and selling rights of the licensee to specific products, territories, or timeframes. It may be suitable when the inventor wants to test the market or restrict competition in certain areas. 5. Cross-License Agreement: This type of agreement involves an exchange of intellectual property rights between the inventor and the manufacturer. Both parties grant each other licenses to use their respective inventions, allowing for collaborative manufacturing and product development. It is important for both the inventor and manufacturer to carefully review and negotiate the terms of the Washington Agreement to ensure that their rights and interests are protected. Seeking legal advice is highly recommended ensuring compliance with applicable laws and regulations.