Patent and Know-How Licence
This Patent and Know-How Licence is designed for use in situations whereby one party owns the rights to (and the intellectual property subsisting in) a patented invention and another party (the licensee) wishes to use the patent. The terms of this Patent Licence set out in detail the terms and conditions governing the licensee’s use of the patent.
This licence is suitable for use with both product patents and process patents (indeed it can cover either or both in the same document).
The licence granted under this document may be exclusive or non-exclusive and entitles the licensee to work under the patent rights and use technical information (or “know-how”) relevant thereto.
Payment under this licence takes the form of royalties which are payable at predefined intervals. The licensee is also required to maintain detailed records with respect to royalties.
The terms and conditions of this licence are substantially the same as those contained in the Patent Royalty Agreement which is also available from Simply-docs. Users of either of these documents will not need to download the other.
Optional phrases / clauses are enclosed in square brackets. These should be read carefully and selected so as to be compatible with one another. Unused options should be removed from the document.
This Patent and Know-How Licence contains the following clauses:
1. Definitions and Interpretation
2. Technical Information
5. Grant of Rights
7. Records and Reports
10. Term and Termination
11. Force Majeure
13. No Waiver
16. Law and Jurisdiction
And the following schedules:
1. Patent Rights
2. Secrecy Undertaking
3. Formal Patent Licence for Registration
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