Licensee shall, during the term of this Agreement, admit the validity of the Patents and/or Trademarks and agree that, if admissible under the existing laws and regulations of the Territory, Licensee shall not, either directly or indirectly, contest nor assist others in contesting the validity of the Patents and/or Trademarks....
Continue readingLicensee undertakes not to manufacture, use, sell or otherwise deal in any products competitive in price and quality with the Licensed Product without the previous consent in writing of Company. Licensee represents and Company admits, however, that at the present time it is, through an affiliated company, (…), involved in the manufacture and distribution in (…) of (…) and (…), which are not in direct competition with those of Company....
Continue readingAll disputes, controversies, or different which may arise between the parties hereto, out of or in relation to or in connection with this Agreement, or for the breach thereof, shall be finally settled by arbitration pursuant to the Japan-American Arbitration Agreement, of September 16, 1952, by which each party hereto is bound....
Continue readingCompany hereby grants to Licensee, during the life of this Agreement, an exclusive, non-transferable and non-assignable license to manufacture, use and sell the Licensed Product under the Patents, Know-How and other technical furnished by Company hereunder in Territory. Licensee shall manufacture the Licensed Product only at the factory in (…) owned or controlled by Licensee and approved in advance by Company....
Continue readingExample 2-1: Definitions For the purpose of this Agreement, the words and terms listed below shall have the following meaning: a) The term "Licensed Product" shall mean the finished (…) composite and any other composites containing the chemical compound covered by the Patents, Know-How (these are hereinafter defined) and/or other technical technical furnished by Company, which are manufactured by Licensee. b) The term "Territory" shall mean (…). c) The term "Patents" shall mean those patents and patent applications covering Licensed Product or any process of making it which Company owns or controls, the application date of which is on or before the Effective Date...
Continue readingImportance of the section/part "Preamble": "Preamble" consists of the essential part of the contract or the License agreement. Therefore, this section should not be neglected in a license agreement/contracts....
Continue reading