Patent Sharing Agreement Template

Use Template

Patent Sharing Agreement

 

This agreement is made and entered into on the date of ______________________________, by and between the following parties:

 

Party A: ________________________________________________

Party B: ________________________________________________

 

For the purpose of sharing patents between the parties, the following terms and conditions shall apply:

 

  1. Each party shall share its patents with the other party for the purpose of developing new products.

 

  1. The patents shall be shared on a non-exclusive basis, and each party shall be free to use the patents for the purpose of their joint venture only.

 

  1. The parties shall jointly own any new patents that are developed as a result of the sharing of patents between the parties.

 

  1. The parties shall share the profits generated from the commercialization of any new products developed as a result of the sharing of patents between the parties in a _______ ratio.

 

  1. This agreement shall be binding on the parties and their respective successors and assigns.

 

  1. This agreement shall be governed by the laws of ____________________________.

 

  1. This agreement constitutes the entire agreement between the parties with respect to the sharing of patents, and supersedes all prior agreements, whether written or oral, between the parties.

 

  1. This agreement may be amended only by a written agreement executed by both parties.

 

  1. This agreement shall be binding on the parties and their respective successors and assigns.

 

  1. The License to any patent in the deal may be revoked at the will of either party.

 

  1. The agreement extends for a period of [TIME PERIOD]

 

IN WITNESS WHEREOF, the parties have executed this agreement as of the date first above written.

 

Party A: ______________________________

 

Party B: ______________________________