How to Invent and Protect Your Invention: A Guide to Patents for Scientists and Engineers

H. PATENT LICENSE AGREEMENT

This Agreement is made and entered into this [date] day of [month], [year], (the “Effective Date”) by and between [owner of patent/invention], having its principal office at [address] (the “Patent Owner”), and [company licensing patent], having its principal office at [address] (the “Licensee”).

WHEREAS, Patent Owner is the owner of certain Patent Rights (as later defined herein) relating to [technology covered by patent] by [inventor's name] and has the right to grant licenses under said Patent Rights;

WHEREAS, Patent Owner desires to have the Patent Rights developed and commercialized to benefit the public and is willing to grant a license thereunder;

WHEREAS, Licensee has represented to Patent Owner that Licensee is experienced in the development, production, manufacture, marketing, and sale of products similar to the Licensed Product (as later defined herein) and/or the use of the Licensed Process (as later defined herein) and that it shall commit itself to a thorough, vigorous, and diligent program of exploiting the Patent Rights so that public utilization shall result therefrom; and

WHEREAS, Licensee desires to obtain a license under the Patent Rights upon the terms and conditions hereinafter set forth.

NOW, THEREFORE, in consideration of the promises and the mutual covenants contained herein, the parties hereto agree as follows:

Article 1: Definitions

For the purposes of this Agreement, the following words and phrases shall have the following ...