Sample Term Sheet For License Agreement

This term sheet is not a binding contract or agreement, but only the expression of a possible transaction between the objective and the buyer. Neither party is bound by a transaction until no final agreement is reached by the parties to that transaction. A reference to global access — the development of technologies from Harvard patents can lead to licensed products that could have significant public health benefits in developing countries. By participating in universities Allied for Essential Medicines, Harvard is committed to promoting affordable access to these products in developing countries. To fulfill this obligation, we may require provisions similar to those contained in the link below in exclusive licenses for such potentially effective technologies. To view standard confidentiality agreements, material transfer agreements or research cooperation agreements, please return to our Model Agreements page. The above roadmap is provided for educational purposes only and should not be used as legal advice. Nothing here represents the clauses of a real business or a justification for an attorney-client relationship between the reader and the author/CFI. CFI makes no claims, promises or warranties as to the accuracy, completeness or adequacy of the information contained in the model dashboard below. Harvard also offers option agreements for companies considering licensing a Harvard technology.

An option agreement allows a company to ”retain” a technology for a short period of time, during which time the company can continue to assess its potential or raise funds for product development without binding on the obligations of a licensing agreement or Harvard. Options typically have a term of six months to one year and typically require both a pre-fee and a refund of the patent application for the duration of the option. Notice of Products Offered by Third Parties – In the case of an exclusive license granted in all or many areas, the licensee may first focus on a limited number of products or uses for the licensed technology. To support Harvard`s mission to promote the common good as much as possible by marketing its own technology at Harvard, Harvard may contain provisions similar to those in the link below, in order to encourage a licensee to develop products offered by third parties or to sublicense the licensee`s rights in Harvard patents to such a third party. to enable the development and commercialization of additional products. Access to innovation at Harvard should be as simple as possible. Our licensing agreements are fair and reasonable, and experienced OTD employees work with you to help you achieve your business goals. To give you an idea of how these licenses take shape, we are happy to provide you with a number of model agreements here.

If you have any questions about these models, please contact us. A license for Harvard`s own patent rights is subject to conditions similar to those set forth in the form agreements in the following links. Some terms can be changed to address unique aspects of each situation. In particular, financial conditions shall be determined on the basis of the technology to be granted, the licensee`s business model and market standards in the sector in which the licensee operates. Harvard offers certain materials (usually biological research materials) for non-exclusive commercial use….

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