Collateral License Agreement between GeneLink, Inc. and The University of North Texas Health Science Center
Overview of this form
The Collateral License Agreement between GeneLink, Inc. and The University of North Texas Health Science Center is a legal document that grants UNTHSC a royalty-free, non-exclusive license under a specific patent application. This agreement is crucial for allowing the university to utilize patented technology developed by GeneLink, thus fostering collaboration in research and development. Unlike other agreements, this form specifically outlines the terms under which the license is granted based on an existing technology agreement between the parties.
What’s included in this form
- Date of the agreement, which establishes the effective date.
- Identification of both parties, GeneLink, Inc. and The University of North Texas Health Science Center.
- Description of the patent information related to the license being granted.
- Terms of the non-exclusive license, including the duration and conditions for termination.
- Signatures of authorized representatives from both parties to validate the agreement.
When this form is needed
This form is used when a company, such as GeneLink, Inc., wishes to grant a university or another research institution a license to use its patented technology. This is common in collaborations where the university intends to conduct research or develop products based on the licensed technology. It is particularly relevant when both parties have a previous agreement that necessitates a formal licensing arrangement.
Intended users of this form
- Organizations or institutions seeking to use patented technology for research or development purposes.
- Companies owning patents looking to formalize a license agreement with academic institutions.
- Legal professionals advising clients on technology transfer and licensing agreements.
- University representatives responsible for managing public and private technology partnerships.
Completing this form step by step
- Identify the parties involved by clearly stating the full names and addresses of GeneLink, Inc. and The University of North Texas Health Science Center.
- Specify the effective date of the agreement and ensure it reflects the correct year.
- Include the details of the patent application, making sure to reference the correct application number accurately.
- Outline the terms of the royalty-free, non-exclusive license, including any conditions for termination tied to the original technology agreement.
- Gather signatures from authorized representatives of both organizations, including dates to confirm approval of the agreement.
Is notarization required?
Notarization is generally not required for this form. However, certain states or situations might demand it. You can complete notarization online through US Legal Forms, powered by Notarize, using a verified video call available anytime.
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Make edits, fill in missing information, and update formatting in US Legal Forms—just like you would in MS Word.
Download a copy, print it, send it by email, or mail it via USPS—whatever works best for your next step.
Sign and collect signatures with our SignNow integration. Send to multiple recipients, set reminders, and more. Go Premium to unlock E-Sign.
If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
We protect your documents and personal data by following strict security and privacy standards.
Common mistakes
- Failing to include the correct patent application number.
- Not specifying the duration or conditions for termination clearly within the agreement.
- Omitting signatures or not using authorized representatives.
- Using outdated or incorrect party names or addresses.
Advantages of online completion
- Convenience of immediate access to the form for download and completion.
- Editability allows users to customize the agreement as per their specific needs.
- Reliability and assurance that the forms are drafted by licensed attorneys.
Legal use & context
- This form serves as a binding agreement enabling collaboration between private companies and academic institutions.
- It ensures that both parties understand their rights and obligations regarding the use of patented technology.
- Compliance with the terms set forth in the original technology agreement is crucial for the enforceability of this license.
Main things to remember
- The form is essential for licensing patented technology from GeneLink, Inc. to the University of North Texas Health Science Center.
- It includes key terms and conditions that need to be thoroughly understood before signing.
- Proper completion and adherence to the agreement ensure effective utilization of the licensed technology.
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FAQ
Collateral and mortgage, while used in similar context, are not interchangeable terms. According to Experian, in the most basic terms, collateral is an asset.A mortgage, on the other hand, is a loan specific to housing where the real estate is the collateral.
The term collateral refers to an asset that a lender accepts as security for a loan.That is, if the borrower defaults on their loan payments, the lender can seize the collateral and sell it to recoup some or all of its losses.
A collateralized loan agreement allows a lender to take ownership of the property that was used as collateral and sell it to recover at least a portion of what the borrower was loaned.
The term collateral refers to an asset that a lender accepts as security for a loan. Collateral may take the form of real estate or other kinds of assets, depending on the purpose of the loan. The collateral acts as a form of protection for the lender.
A collateral promise is one that is established by statute. A promise established aside from the legal statute is referred to as original. These terms have been introduced by case law to ease contract interpretation. The original promise creates debt because it establishes a quid pro quo relationship.
What does it mean if a term is "collateral" to a written agreement? the term is related to the subject matter of the agreement, but not part of the primary promise.An agreement that a contract will not become binding until a certain condition has occurred.
Mortgage and security interest are two similar terms, both referring to a collateral created in order to secure a debt by one party to the other.The basic difference is that mortgage is a traditional way of securing obligations under the common law, typically used in property transactions.
When one agent represents both a Buyer and a Seller (referred to as double-ending a sale), they stand to make twice as much commission, so discounts are often offered to the Seller. It's called a collateral agreement, is completely legal and this agent did properly disclose it.
A collateral loan is often called a secured loan. This means the loan is guaranteed by something you own, and if you can't pay your loan back, the lender has the right to claim the collateral, whether it's a car, savings account, piece of jewelry, investment portfolio or a home.
