Technology Assignment Agreement

Acquire the expertise and know-how needed to set up a manufacturing and distribution facility in China under this Technical Collaboration Agreement.

• The contract is between three parties - a buyer (the company that wants to distribute products in China), a Chinese manufacturing firm, and a supplier who will supply components and license its technology to the buyer.
• The supplier grants the buyer the right to have the manufacturer manufacture, sell and distribute the products in conjunction with the supplier’s know-how and intellectual property rights pertaining to the products and the manufacturing processes.
• The supplier will provide the necessary know-how, specifications and data to assist the manufacturer in setting up the plant to produce the products. The supplier will send a technical advisor to train the onsite engineers.
• The buyer will pay a continuing royalty based on the net selling price of the products.
• The Agreement contains confidentiality and secrecy provisions to protect the supplier’s intellectual property rights.
• The Agreement contains two separate governing law and dispute resolution clauses, depending on whether or not Chinese laws will govern the Agreement.
• This contract is intended to be used in conjunction with a Product Supply Agreement between the parties.