Services Agreement between The University of Memphis and UTEK Corp. regarding commercial development of specific intellectual property and technology
Overview of this form
The Services Agreement between The University of Memphis and UTEK Corp. is a legally binding contract that outlines the terms under which the university and UTEK will collaborate on the commercial development of specific intellectual property and technology. This agreement facilitates the transfer and commercialization of university-developed technologies while protecting the confidentiality and rights of both parties. Unlike other legal agreements, this form allows for the creation of an exclusive license option for UTEK to further commercialize the technology and helps establish a clear framework for managing intellectual property rights developed at the university.
Key components of this form
- Identification of the parties involved: The University of Memphis and UTEK Corporation.
- Definition and description of the intellectual property and technology to be reviewed.
- Terms of confidentiality and non-disclosure obligations regarding proprietary information.
- Conditions for the commercialization of specified technology, including license options.
- Termination clauses and conditions under which the agreement can be ended.
When this form is needed
This form is needed when The University of Memphis seeks to partner with UTEK Corporation for commercializing inventions or technologies developed at the university. It is particularly useful when there is a need for licensed support in assessing the commercial potential of academic technologies, or when both parties want to establish a formal agreement governing confidentiality and proprietary rights during their collaboration.
Intended users of this form
- University administrators responsible for technology transfer and commercialization efforts.
- Representatives from UTEK Corporation involved in assessing university-developed technologies.
- Legal advisors or professionals in charge of drafting and negotiating intellectual property agreements.
Steps to complete this form
- Identify and enter the effective date of the agreement.
- Clearly state the technology or intellectual property being considered for commercialization.
- List any confidentiality obligations concerning the shared proprietary information.
- Specify the terms for exclusive licensing options, if applicable.
- Ensure both parties sign and date the agreement at the end.
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
- Not clearly defining the technology or intellectual property involved.
- Failing to specify confidentiality obligations for shared information.
- Ignoring the need for both partiesâ signatures to validate the agreement.
- Not including provisions for license renewals or extensions.
Benefits of using this form online
- Convenience of downloading and accessing the form anytime.
- Editable format allows customization to fit specific needs.
- Reliable legal templates drafted by licensed attorneys ensuring legal validity.
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FAQ
Intellectual property (IP) refers to creations of the mind, such as inventions; literary and artistic works; designs; and symbols, names and images used in commerce.
Intellectual property (IP) refers to the ownership of an idea or design by the person who came up with it. It is a term used in property law. It gives a person certain exclusive rights to a distinct type of creative design, meaning that nobody else can copy or reuse that creation without the owner's permission.
Copyrights. Trademarks. Patents. Trade Dress. Trade Secrets.
Under an intellectual property licensing agreement (also known as an intellectual property license or an intellectual property license agreement), you retain ownership of your patent, copyright, or trademark, but you give another party permission to use some or all of your intellectual property rights for a specific
There are four types of intellectual property rights (IP): patents, trademarks, copyrights, and trade secrets.
Examples of intellectual property include an author's copyright on a book or article, a distinctive logo design representing a soft drink company and its products, unique design elements of a web site, or a patent on a particular process to, for example, manufacture chewing gum.
Among the many uses of a Non-Disclosure Agreement (sometimes called an NDA) is the protection of Intellectual Property.By definition, an NDA agreement is a simple contract compelling two or more parties to keep certain pieces of shared information confidential and private.
