Common Contracts

SAMPLE AGREEMENT ANNOTATIONS Patent License Agreement

Sample Agreement • October 29th, 2017

• Contract Type
  Sample Agreement
• Filed
  October 29th, 2017

This Patent License Agreement (“Agreement”) is made as of [_________], 20[__] (the “Effective Date”), by [________] (“Licensor”), a [_____________], and [________] (“Licensee”), a [_____________]. [2] WHEREAS, Licensor owns certain patent rights relating to [____].[3] WHEREAS, Licensee wishes to license such patent rights and has agreed to enter into this Agreement under the terms and condition set forth herein.[4] NOW THEREFORE, in consideration of the foregoing and in further consideration of the covenants and promises set forth herein, the sufficiency of which is hereby acknowledged, and intending to be legally bound [5], the parties agree as follows: 1. Definitions. As used in this Agreement, the capitalized terms have the meanings set forth below. “Annual License Fee” means [________] dollars (US$[______]). [6] “Challenge” has the meaning set forth in Section 3.3. “Control” means the direct or indirect ownership of more than fifty percent (50%) of the shares or similar equity inte