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A Manufacturing License Agreement is a contract between two or more parties that grants one party the right to manufacture products using the intellectual property of another party. It is necessary in situations where a company wishes to outsource production of its product to another company and needs to protect its intellectual property rights. The agreement specifies the terms and conditions for the manufacture of the product, such as the cost of production, pricing, quality control, delivery schedules, and the duration of the agreement.
1. Scope of the license: Clearly define the scope of the license, including the exact products and services that are being licensed.
2. Rights and responsibilities of the parties: Establish the rights and responsibilities of each party to ensure both parties understand their obligations.
3. Payment terms: Include payment terms for any fees associated with the license agreement.
4. Termination: Include provisions for termination of the agreement, such as a breach of contract or expiration of the license.
5. Indemnification: Include an indemnification clause to protect both parties from any liabilities arising from the agreement.
6. Confidentiality: Include provisions to protect confidential information shared between the parties.
7. Dispute resolution: Include a dispute resolution clause to specify how disputes will be handled.
8. Choice of law: Specify which state laws will govern the agreement.
