Technology Transfer Agreement
License your technology and know-how to a manufacturer who will manufacture and sell your products under this Technology Transfer Agreement.
- The manufacturer is granted an exclusive license to use the technology and know-how within a defined territory.
- The owner of the technology (the grantor) will provide all required technology, training and technical assistance.
- The manufacturer will pay the grantor a royalty on each sale of products within the territory.
- Either party may develop improvements to the products, and must disclose such improvements to the other party.
- On improvements developed by the manufacturer, the owner will have the exclusive royalty-free license outside the territory, and the manufacturer will have the exclusive royalty-free license inside the territory.
- The parties will jointly perform verification tests on the products.
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Last Updated: 14-April-2016