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MOA 1 document Tweetable Content (WITHOUT KEYWORDS (In view of the…
MOA 1 document Tweetable Content
WITHOUT KEYWORDS
In view of the cooperation provided for under this MOA, NCR agrees to advise XYZ and render all possible assistance to XYZ in the filing of patent applications (both in the country and abroad) on Technology(ies), which XYZ assigns or proposes to assign to NCR for licensing on the understanding that when the said patents are granted, XYZ would assign those patents to NCR for commercial exploitation.
Each party shall bear and pay its own cost of the arbitration proceedings unless the Arbitrator otherwise decides in the Award.
WHEREAS XYZ and NCR recognise the respective strengths of the two organisations and accordingly agree to cooperate in the development of technologies and their successful transfer to industry for commercial exploitation and socioeconomic benefits.
In consideration of the assignment, provision of technical information and documentation and technical services as aforesaid by XYZ, NCR agrees to remit 70% of the entire fees (Lumpsum Premium and Royalty) received by it from the licensees arising from the said commercial exploitation of the Technology(ies), of XYZ assigned to NCR.
XYZ agrees to provide a demonstration of the Technologies which are licensed by NCR to the licensee at XYZ on the scale at which the technologies have been developed by XYZ, within a reasonable time preferably within 60 days of the date of signing of the licence agreement by the licensee with NCR to familiarise appropriately qualified personnel of the licensee and provide expert assistance to the licensee for implementation of the licensed invention/process/ product/ technology etc.
WITH KEYWORDS
dispute
This MOA shall become effective on and from the date it is signed.
The royalties payable to XYZ shall continue for a fixed period agreed between NCR and the licensee, and NCR will apply its well established and time tested methods of monitoring the extent of exploitation of the said Technology(ies) to ensure full and effective payment of royalties by the licensee concerned.
If however, XYZ or NCR does not make any claim or demand or raise any dispute or difference in terms of sub clause 15(i) of this Clause 15 within one year from the date on which such demand or claim arises, XYZ or NCR shall be deemed to have waived and abandoned such claim or demand or the right to raise such dispute or difference against the other party.
All incomes accruing from licensing to industry of such patent(s)/design(s)/copyright(s)/trademark(s), etc, shall be shared between NCR and XYZ in the ratio of 50:50.
If any dispute or difference arises between the parties hereto as to the construction, interpretation, effect and implementation of any provision of this MOA including the rights and liabilities or any claim or demand of any party against other or in regard to any other matter under this MOA but excluding any matters, decisions or determinations of which is expressly provided for in this MOA, such disputes or differences shall be resolved by mutual consultation and if it fails, the dispute shall be referred to the Bench of Arbitrators.
expenses
All the expenses in obtaining the patent(s)/ design(s)/copyright(s)/trademark(s) etc in India on the invention(s)/ process(es)/ technology (ies) etc assigned to NCR shall be borne by NCR.
This MOA shall become effective on and from the date it is signed.
However, if the patent(s)/ design(s)/ copyright(s)/ trademark(s) etc is/are to be taken in any foreign country, the expenses for filing and maintenance etc will be shared between XYZ and NCR in the ratio of 50:50.
The premia and the royalty agreed upon by NCR and the licensee and the period of licensing will be finalised by NCR in consultation with XYZ.
NCR, after due consultation with XYZ on case to case basis, hereby agrees, in case of revocation proceedings against a patent assigned to it by XYZ to protect the said patent/design/trademark and underlying Technology(ies) and in such a case, the expenses will be shared equally between the NCR and XYZ.
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