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Cross Licence
"Need a Cross Licence agreement between our software company and a hardware manufacturer to mutually license our AI technology patents and their sensor technology patents, with royalty-free terms and implementation support, targeted for completion by March 2025."
1. Parties: Identification and details of the contracting parties
2. Background: Context and purpose of the cross-licensing arrangement
3. Definitions: Key terms used throughout the agreement
4. Grant of Licence: Specific rights being licensed by each party
5. Term and Termination: Duration of agreement and termination provisions
6. Warranties and Representations: Assurances regarding IP ownership and right to license
7. Governing Law and Jurisdiction: Specification of English and Welsh law as governing law and jurisdiction
1. Royalties: Payment terms and financial compensation arrangements between the parties
2. Territory Restrictions: Geographical limitations on where licensed IP may be used
3. Quality Control: Standards and requirements for using licensed IP
4. Sublicensing Rights: Provisions regarding rights to grant licenses to third parties
5. Confidentiality: Provisions for protecting confidential information exchanged during the license period
1. Schedule 1 - Licensed IP: Detailed list and description of intellectual property being licensed by each party
2. Schedule 2 - Technical Specifications: Technical details and requirements of licensed technology or processes
3. Schedule 3 - Quality Standards: Specific quality requirements and standards for license use
4. Schedule 4 - Royalty Calculations: Formula and methods for calculating royalties if applicable
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