Patent and Know-How License Contract (Licensor-friendly)

The Patent and Know-How License Contract (Licensor-friendly) is a legal template that establishes the terms and conditions for licensing intellectual property consisting of patents and know-how from the licensor to a licensee. The primary objective of this contract is to protect the interests of the licensor and provide them with favorable control over their technology while allowing the licensee to utilize and exploit the licensed intellectual property.

The template sets out provisions related to the scope of the license, including details of the patents and know-how being licensed, any restrictions on the licensee's use or transfer of the licensed technology, and the territory in which the license is applicable. It also includes clauses defining the license duration, termination rights, and the obligations of both parties to maintain the confidentiality and security of proprietary information.

The licensor-friendly nature of this legal template ensures that the licensor has significant control over the licensed technology. It includes provisions to protect the licensor's intellectual property rights, such as obligations on the licensee to promptly report any infringement or unauthorized use. The contract also generally grants the licensor the right to audit the licensee's compliance with the terms of the agreement and enforce measures to protect the licensed technology.

Additionally, the template may include provisions for financial arrangements, such as royalty payments, milestone payments, or upfront fees. These provisions ensure that the licensor is adequately compensated for the use of their patents and know-how.

Overall, the Patent and Know-How License Contract (Licensor-friendly) serves as a legally binding agreement between the licensor and licensee, providing a robust framework for the licensing of valuable intellectual property while prioritizing the rights and interests of the licensor.