When reading a contract, make sure you know where to use a product. Often, you can only use a product within a specific denomination, for example. B of a city or country. Failure to comply with this provision may result in a breach of the agreement and possible legal actions and/or withdrawal of the license. A standard but useful clause that provides for the method of notification of communications under the agreement. Clause 4.3 deals with updating information – over a long period of time, manufacturing methods may change, products may be refined, etc. Description This agreement stipulates that a Product Owner (and his trademark, design rights and intellectual property) may license his product to another company to produce the product against loyalty in a given geographical area, it is possible to sell and sell. A licensee makes a difference when a minimum is not reached. Examination fees should also be added. This allows a licensor to review a licensee`s records to ensure that expenses and royalties are in accordance with the agreement. In the event of the occurrence of an unforeseen event that is beyond the control of the parties, the party concerned is released from its responsibilities and, as indicated above, if the event of force majeure makes it impossible to perform the contract for more than one specified period, each party has the right to terminate it.
Although not stated here, a case of force majeure should not be used by a party to avoid payment due under the agreement. Here we have made available to the licensor the provision of all electronic documents and data that the licensee needs for manufacturing. This is made available free of charge. The clause also deals with technical assistance: clause 4.2 obliges the donor to provide technical assistance, but, as in the project, all visits to the licensee`s factory were carried out at the licensee`s expense. Owners of patents, designs, copyrights and other intellectual property rights that exist in inventions often choose to grant those rights to others in order to exploit their inventions. Often, the owner of an invention chooses to enter into a manufacturing license agreement with another party allowing that party to manufacture their invention. In clause 7.5, the licensee is free to set its own prices for the goods, but this would not necessarily be applicable – the costs of production vary from country to country, but some uniformity of prices may be desirable. . .