Letter of Intent to License Technology for Development
Negotiate the terms of licensing certain technology for research and development purposes with this Letter of Intent.
- The licensor will sponsor research to further the development of the technology, and may offer consulting positions to some of the licensee's research and development personnel to further its business interests.
- The licensee will pay an up-front license fee, and a royalty on all sales of products or services covered by the patent rights related to the technology.
- The licensor will diligently pursue and protect all patent rights.
- Closing of the transaction is conditioned upon a number of factors, including the licensee being able to obtain the necessary financing.
- The Letter of Intent itself is an agreement in principle, not a legal contract, and is not legally binding except as it relates to the negotiations between the parties.
- The purpose of the Letter of Intent is to ensure that the licensor and the licensee both have the same understanding of the terms discussed.
The Letter of Intent to License Technology for Development template is generic (not country specific) and is fully editable to fit your specific circumstances.