Intercompany Intellectual Property License Contract
About this template
This legal template refers to an Intercompany Intellectual Property License Contract governed under the laws of the United States of America. This contract provides a framework for the licensing of intellectual property (IP) assets between two affiliated companies within the same corporate group or parent-subsidiary relationship.
The document outlines the terms and conditions under which the licensor grants the licensee the right to use, access, and exploit specific intellectual property assets, such as patents, trademarks, copyrights, or trade secrets. It defines the scope of the license, including permitted territories, duration, and any limitations or exclusions.
The contract also incorporates provisions regarding payment and royalties, detailing how the licensee will compensate the licensor for the use of the licensed IP. It may include arrangements for upfront fees, ongoing royalties based on sales, or any other agreed-upon compensation structure.
The template also addresses important clauses to protect the rights of both parties involved. This can include clauses related to ownership of the intellectual property, confidentiality obligations, dispute resolution mechanisms, and liability limitations. It may cover provisions for termination, assignment or sublicensing rights, and the consequences of any breach or infringement of the licensed IP.
Overall, this legal template serves as a comprehensive framework to establish a clear and binding agreement between affiliated companies, ensuring the licensed intellectual property is utilized in a controlled and mutually beneficial manner while complying with the laws and regulations of the United States.