This article is just a general overview of licensing agreements; It is not complete and should not be used to prepare a legal document. Using a model that you find on the Internet is dangerous because it cannot address certain laws and your own situation. (3) In the case of a sublicensing of a formulation, the sublicensing fee is 20% (20%) Charges paid – based on sales made by the sublicensing. To view type trust agreements, hardware transfer agreements or research cooperation agreements, please return to our standard agreements site. The licensing agreement should contain a language dealing with the issue of property disputes. What happens, for example, if someone challenges ownership of a trademark you have licensed? Or, what happens if someone plagiarizes the copyrighted work that is licensed? Both parties to the licensing agreement should agree on how to deal with these issues. Explain the monitoring and quality assurance process. There must be a first sample of the product that must be approved before the products can be created. Regular product quality checks should be carried out.
Monitoring of product sales should be clearly defined. Who determines the price of the product? Can products be updated? Those who enter into a licensing agreement should consult a lawyer, as there are complexities that are difficult for those who do not have a deep understanding of intellectual property law. There are certainly advantages to licensing your business assets, but make sure you take these factors into account when creating a licensing agreement: this type of agreement allows Harvard researchers who create a new business to easily license non-patentable, copyright-protected software that they have developed as part of the faculty`s research efforts. In cases where there are patentable topics such as unique algorithms, please read the «Exclusive Basic License» agreement model published above. Different types of IP can be covered in this agreement: Do your due diligence before the agreement. Both parties should carefully consider the other party. Check business credits and continuous management. Ask for a degree. Visit the offices and production sites of the other company.
Try to do it. Monitoring and quality assurance. To protect its product, the licensee needs specific testing and sales control. Tests may contain a first sample of the product to ensure quality is acceptable. The licensee may require regular quality verification of the product. In addition, the licensee has the right to monitor sales, to verify that the products are not too discounted and that the quality is maintained. Monitoring could also include the possibility for Harvard to offer option agreements to companies considering licensing Harvard technology. An option agreement allows a company to «keep» a technology for a short period of time during which the company can continue to assess its potential or find funds for product development without committing or harvard to comply with the obligations of a licensing agreement. Options are typically six months to a year and generally require both overcharging fees and a refund of patent tracking for the duration of the option.