Technology License Agreement
Technology License Agreement to license the use of technology for manufacturing. ‘Technology’ is a wide term that includes Intellectual Property and knowledge, techniques, systems or methods of organisation.
In this agreement, the licensor grants a license to produce a product using the licensor’s technology.
Under a license agreement, the licensor controls the manner in which the licensee uses the licensor’s patents, know-how and technology. The licensee is given autonomy as to how they do this.
The Licensor is the owner of technology for the production of a certain product. The agreement includes:
- Licensee’s covenants
- Research & Development
- Right of Inspection by licensor
- Effect of termination
- License fee.
- Warranties by licensor
- Notification of claims
- Limitation of liability
- Non merger
- Essential terms
- Time of the Essence
- Waiver or variation
· SCHEDULE Commencement date
- The Licensed Technology
- The Purpose
- The Article
- Interest rate
- The Technology
9 pages long.
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