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Technology Transfer Agreement is used when a company (also referred to as Licensor) assigns or licenses to another company (also referred to as Licensee) registered industrial and intellectual property rights (such as patents, trademarks, copyright etc.) as well as technical assistance and know-how. In the case of assignment, knowledge and exclusive rights are granted whilst in the case of licensing, knowledge is transferred. 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. 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

Benefits of Technology Transfer Agreement

• It protects the right of the party licensing or assigning technology.
• It prevents Receiving Party from disclosing sensitive/confidential information to third party.
• It is instrumental in preventing occurrence of future conflicts.
• It facilitates trust between parties.

Technology Transfer Agreement is used when a company (also referred to as Licensor) assigns or licenses to another company (also referred to as Licensee) registered industrial and intellectual property rights (such as patents, trademarks, copyright etc.) as well as technical assistance and know-how.

It protects the right of the party licensing or assigning technology.

Yes, it is essential if assigning and licensing of industrial and intellectual property rights has to be done.

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