Technology Transfer Agreement
This contract is used when a company (Licensor) assigns or licenses to another (Licensee) registered industrial and intellectual property rights (patents, utility models, trademarks, copyright etc.) as well as technical assistance and know-how. In the first case, knowledge and exclusive rights are granted, which are recognised and registered in order to manufacture and market products, whilst in the second, knowledge is transferred which has no legal recognition, but that does have a value in itself. As in the Trademark License Agreement, in the technology transfer contract the price for the assignment of industrial and intellectual property rights, as well as the know how is initially paid a certain amount of money (fee) and during the term of the contract a percentage (royalties) calculated on the amount of the sales of the products under license, made by the Licensee. The fees for technical assistance services are paid individually for each service rendered. The Technology Transfer Agreement is increasingly being used in technological cooperation strategies through which companies endeavour to enter into competition in certain sectors or markets but without having to develop internally the technology necessary for that purpose and that which is acquired through this type of contract to R&D+ i companies. Model of Technology Transfer Agreement.