Exclusive Patent License Agreement


(3) The preparation and maintenance of patent applications and patents made at the expense of the licensee shall be carried out by patent attorneys selected by the licensor; The preparation, filling, follow-up and maintenance of these applications for patentable goods are the subject of special attention and attention. Both parties review and approve all patent documents. 2. Sub-licensing. The grant and conditions of all sub-licences are entirely at the licensee`s discretion, provided that all sub-licences are subject to the terms of this Agreement. Patents sum up a company`s hopes and dreams, and many investors, CEOs, and inventors have a negative abdominal reaction to not “owning” their patents. For one reason or another, the “possession” of their patents is a deeply moving subject, but it shouldn`t be. 9.3 Licensee shall provide, in all sublicenses it grants under this Agreement, that Licensee`s interest in such sublicenses terminates at HARVARD`s option after termination of this Agreement or that it is assigned to HARVARD. [2] Unfortunately, most university technology transfer offices are pitifully incompetent and do a very bad job. This is due to the fact that few people understand the needs of the startups that serve them and very bad internal incentives to enter into licensing agreements. Patents are a significant capital investment for a startup, but also an office building.

However, no startup company owns its office building entirely. Even if they owned the building, they would take a mortgage on the building to free up capital. Exclusive licenses are the same as a lease agreement: the startup has full control of the assets, but does not need to spend capital to build or maintain the asset. Many startups and CEOs don`t have direct experience with exclusive or non-exclusive licenses, but these types of agreements are well respected and enforceable. Licensor`s failure or delay in exercising its termination rights under this Agreement, because Licensee is not in arrears in performing an obligation imposed on it by this Agreement, shall not affect Licensor`s right to terminate for any further delay by Licensee. . . .

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