Exclusive License To Exploit Patent (with instructions)

Exclusive License To Exploit Patent (with instructions)
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1. Introduction. Agreement dated [date] between [name], residing at [address] (Licensor), and [name], with offices at [address] (Licensee).

2. Licensor's Representations. Licensor is the sole owner of U.S. Letters Patent No. [number], covering the following invention: [description]. Licensor has not granted to any person or entity any right to or license under that Patent. Licensor has the right to grant the exclusive license given to Licensee by this Agreement.

3. Grant of License. Licensor grants to Licensee under Licensor's Letters Patent the exclusive, nontransferable right and license to manufacture and sell the invention and its improvements throughout the world. Licensee may grant sublicenses if the terms and conditions of the sublicenses are consistent with the terms and conditions of this license.

4. Future Inventions. The grant of this exclusive right and license to Licensee applies to all inventions, improvements, patent applications, or letters patent pertaining to the invention that Licensor may hereafter devise or obtain.

5. Advance Against Royalties. Upon the execution of this Agreement, Licensee shall pay Licensor the sum of ........ dollars ($........) as a nonreturnable advance to be recovered only from the first royalties due to Licensor under this...


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Product Code EXCU36
Condition New

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