Harvard Sample License Agreement: A Guide for Startups and Innovators
As an innovator or entrepreneur, you know how important it is to protect your ideas and intellectual property. One way to do so is by entering into a license agreement. A license agreement is a legal document that grants permission to another party to use your intellectual property, such as a patent or trademark, under certain terms and conditions.
If you`re looking for a sample license agreement to use as a starting point, the Harvard Sample License Agreement is a great option. Developed by Harvard University`s Office of Technology Development, this agreement is designed to be adaptable and customizable to meet the needs of innovators and startup companies.
Here are some key elements to keep in mind as you consider using the Harvard Sample License Agreement:
Scope of the license: The license agreement should clearly define what intellectual property is being licensed and what rights and limitations the licensee has to use it. This includes whether the license is exclusive or non-exclusive, and whether it covers all or just part of the intellectual property.
Term and termination: The agreement should specify how long the license will last and what circumstances could cause it to be terminated. This might include breach of the agreement, failure to pay royalties, or changes in ownership of either party.
Royalties and payment: If the licensee will be paying royalties, the agreement should outline how those payments will be calculated and when they are due. The agreement should also specify whether there is an upfront payment, and if so, how much.
Intellectual property ownership: The agreement should spell out who owns the intellectual property before and after the license is granted. If the licensee will have any ownership rights, such as the right to make improvements or modifications, this should also be specified.
Warranties and indemnification: The agreement should include warranties from both parties that they have the right to enter into the agreement and that the intellectual property is not infringing on any existing patents or trademarks. The agreement should also specify who will be responsible for any legal fees or damages in case of a breach of the agreement.
While the Harvard Sample License Agreement is a useful starting point, it`s important to remember that every situation is unique. You should work with a qualified attorney to customize the agreement to your specific needs and circumstances.
In conclusion, the Harvard Sample License Agreement is a great tool for startups and innovators looking to protect their intellectual property. With careful attention to the elements outlined above, you can create an agreement that meets your needs and helps your business thrive.