Ampoule Ampule. Method Qualification. SafeBridge Certification. Guidance Document. Wurster Process. Breaking News. Analysis Breaks Down the Overlap and Differences. Forge Biologics to Expand Manufacturing Facility. Level 2 license means a Utah professional educator license issued after satisfaction of all requirements for a Level 1 license and:.
Level 1 license means a Utah professional educator license issued upon completion of an approved preparation program or an alternative preparation program, or pursuant to an agreement under the NASDTEC Interstate Contract, to applicants who have also met all ancillary requirements established by law or rule.
Commercialization means any and all activities directed to the preparation for sale of, offering for sale of, or sale of a Product, including activities related to marketing, promoting, distributing, and importing such Product, and interacting with Regulatory Authorities regarding any of the foregoing.
Third Party Technology means all Intellectual Property and products owned by third parties and licensed pursuant to Third Party Licenses. Collaboration means a process involving 2 or more health. Sublicensee means any permitted sublicensee of the rights granted Company under this Agreement, as further described in Section 2. Intellectual Property License Agreement means the agreement to be entered into between NNL, on the one hand, and the Purchaser or the relevant Designated Purchasers , on the other hand, on or prior to the Closing in the form attached hereto as Exhibit F.
Licensed Services means all functions performed by the Licensed System. Due to various factors and shortcomings, some are in a position to achieve it while some are not. Similarly, it may also be the case that the individual innovator has invented a piece of technology but lacks the knowledge as to how to exploit it or gain profits by commercializing it.
Hence, licensing is one of the most effective methods for the individual innovators to capitalize their innovation in return for payments and also an expeditious way in which the companies can gain out of these inventions without actually taking the trouble of re-inventing.
A license on an intellectual property essentially means a grant of permission by the owner or the licensor of the intellectual property to use the intellectual property which otherwise would amount to infringement. In other words, the absence of such grant of permission would render the acts carried out by any person other than the owner of the intellectual property as infringing the rights of the owner of the intellectual property.
It is highly recommended that the licensing agreement should be written which creates a formal legal relationship between the licensor and the licensee. Also, the licensing agreement should clearly define the scope and the rights of the licensee thereby making efforts to avoid future disputes.
As we are well aware of the fact that the intellectual property in practicality means the rights over the ideas and creation of mind which are put down, the intellectual property thus can take various forms.
It may be the artwork of an artisan, or the literary works of an author, or the inventions of a patent owner[3]. Thus, depending upon the type of property involved the licensing of such intellectual property differs.
Similarly, if the property to be licensed is software then such licensing is coined as software licensing. Patent, as we all know, is the grant of monopoly by the government over an invention which is novel and new and is capable of industrial application. With the advancement and the advent of technology, many new ideas keep emerging and patent applications are filed to protect these ideas in the relevant national patent offices. Licensing such technologies benefits the owner of the IP to geographically exploit its invention by opening the doors of new global markets.
Even though licensing in all forms of intellectual property is very rampant these days the most common of all is the patent licensing, as it has benefits of its own. The University of Campinas, popularly known as the Unicamp is amongst the top ten universities of Brazil and Latin America[6]. With the help of its technology transfer office — Inova, this Brazilian university has been able to achieve great deals for its inventions in the short span of seven years.
Where the university had started from scratch as a small research-based centre in the university is now globally renowned for its researches. Unicamp has managed to coin many technologies and is well known for entering into licensing agreements in the span of just two and a half years.
According to the terms of the agreement, Unicamp has managed to receive royalties at the rate of 1. After spending 15 long years on the research and the development of the drug the university was successful in obtaining patent protection from the US Food and Drug Administration in the year Licensing out could be an effective method for the licensor to commercialise his IP.
Also for the licensee, trademark licensing provides an access to the consumer market captured by the licensor, and an impetus for dealing with the new channels of distribution and also helps in dealing with the competition.
According, to a survey conducted by LIMA of the licensing industry in , the apparel industry has managed to be the top licensed product of the year followed by the toys industry and fashion accessories. Well under such circumstances the licensors always expressly mention the scope and field of use and distribution of the goods and any actions in contravention to the provisions of the licensing agreement leaves the licensor with the option of opposing the resale of such goods by the licensee if such a resale is detrimental to the reputation of the mark.
Thus, earlier where the property would majorly refer to tangible objects, in the modern times with the advent of intangible property rights and their related protection the awareness for the protection and commercialization of intangible property has gain importance. Depending upon property involved and the related intellectual property rights the licensing agreement differs and the terms of such agreement vary accordingly. Suppose there is a research-based company A, which own a considerable number of patents in the field of technology.
However, being a small -scale company does not possess the adequate resources to exploit its inventions and also does not have the required knowledge to enter new markets or does not possess the required machinery to manufacture and distribute the invention in the global markets. Thus, licensing is an effective tool at the disposal of such companies or innovators who wish to market their inventions but lack the resources to do so.
From the point of view of the licensor who is the owner of the intellectual property, this is an easy way to market his product. And from the point of view of the later licensing is a tool that enables him to capture the markets with the innovations of someone else. That is to say, it helps him expand and develop his business without actually engaging his resources in developing the inventions. When a licensor enters into a licensing agreement with a foreign company or a multi-national enterprise the doors of the global market automatically open.
It may so happen that as per the terms of the licensing agreement the manufacturing, production and sales of the technology may happen in more than just one country. And as a standard practice in licensing, since the risks of manufacturing and selling the technology are largely taken up by the licensee coupled with the huge amount of investments made by him, this creates a favourable environment for the licensor to enter into licensing agreement.
And to add on to this the licensor even receives remuneration for his efforts by the way of royalties paid to him either on a lump-sum basis or by providing a share in the profit.
Also, another advantage of licensing is it provides an impetus to the companies or institutions to overcome the problem of shortage of resources to market their inventions. These types of problem of shortage of resources to commercialise the invention can specifically be seen with the academic or research institutions.
Licensing is an advisable channel through which these institutions can bring their inventions to the store shelves. Licensing also at the same time enables the licensor to enter new branches of the market other than the principal line of the product. Often product merchandising or brand licensing is adopted to expand the business of the enterprise in the areas which are relatively foreign to the principle specialization of the business.
Thus, the Cartoon Network Enterprise a subsidiary of Turner Broadcasting System which is televisions most loved network among the kids. The company has managed to secure licensees in a wide range of departments. For instance, where Funko will develop and market the cutlery and other accessories Jewelboots will launch interactive friendship bracelets featuring the cast, whereas Galarie will launch sweaters. Not only this but the company will also make an entry in the electronics sector.
Likewise, for Ben 10 Playmate toys will be the global toy partners. Other advantages of licensing are the minimum amount of investment to be made by the licensor.
Usually, as a general trend of licensing when the licensor licensees his product or invention to the third party the risk of investment is usually taken up by the licensee. Licensing is also a medium to launch the products in different countries when the launch in a certain country is negated due to the government policy of that specific country. Thus, the location where the licensor had initially thought of launching the product but could not launch it in reality due to some encumbrances, the licensor can market his products using a license.
Thus, earlier in the past due to government regulations the use of plastic-pipes in the residential and housing sector was banned.
The companies in the USA then took resort to license and licensed their products to other territories.
That is to say, it is indeed a way by which the licensor can get access to the rights in the improvements that maybe be developed by the licensee during the tenure of his contract. Licensing can be termed as the gate-pass to enter foreign markets. While it may not be feasible for the licensee to manufacture and market the product at the same time, licensing is an effective way out.
Along with this it also helps in eliminating the barriers that may arise due to lack of transportation facilities and helps the licensor penetrate into foreign markets using the skills and expertise of the licensee. As it is a well- established fact that unlike assignment in licensing there is no transfer of ownership in the favour of the licensee, licensing creates a favourable environment for the licensor whereby he is benefited with retaining the ownership of his IP along with receiving royalties for the same.
Now we shall consider the other side of the coin. Every business enterprise either large or small has the dream of entering and capturing the global markets by coming up with ideas that are never thought of before. However, only a few business entities are in a position to achieve their dream and bring it to reality.
Others often cannot make it to the global markets even though have the rush to reach.
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