Technology Licensing Agreement India

When an intellectual property is jointly held, each co-owner must manage that intellectual property with the consent of the other. A co-owner cannot enter into joint intellectual property transactions, transactions or contracts without the consent of the other. Each co-owner has the same intellectual property rights. Through a contract, co-owners can develop each other`s rights and obligations to make decisions about different aspects of intellectual property. Thus, the co-owners may decide, by contract, that a co-owner has the right, when marketing the intellectual property concerned, to make decisions regarding the conclusion of a license or a franchising agreement with a third party. However, when such a contract is executed with a third party, the two co-owners are required to jointly execute such a contract. In such a case, an express condition indicating the obligation to reconcile the dispute must be included in the contractual agreement that both parties accept. Arbitration proceedings can be conducted in any jurisdiction, as agreed by the parties. Parties may agree to exclude toto arbitration if they intend to appeal directly to the appropriate courts. However, a licensee may not initiate any proceedings against an infringer of the intellectual property granted without the consent of the owner or the grantor, unless the donor and the taker agree otherwise.

On the other hand, the granting of a licence is a discharge that the patent holder grants to another person or entity for the use of the patented invention under agreed terms, while the licensee retains ownership of the patent and becomes a source of income by collecting the intended royalties or on the condition. Technology in India is growing exponentially and has played an important role in the development and growth of the country`s economy, and India has opted for a judicious mix of origin and import technology. From now on, “technology transfer” plays a very important role and is generally covered by a technology transfer contract. Depending on the type of business and the extent to which these licences are granted, there are different types of licensing agreements. The most notable agreements, with very different conditions, are: technology transfer has economic benefits by generating revenue benefits for both technology givers and beneficiaries, with new and better quality products, processes and services, improving efficiency, efficiency, market share and profits. As today, during the year of technological advancement, there are many technologies that, together with other technologies, generate other new Advent technologies.