LICENSE AND TECHNICAL ASSISTANCE AGREEMENT
LICENSE AND TECHNICAL ASSISTANCE AGREEMENT made by and between [the American Widget Co.,]a corporation organized and existing under [the laws of the State of New York, U.S.A], having an office at [150, 51st West, New York, N.Y.,U.S.A.] (hereinafter referred to as LICENSOR); and [Korean manufacturing Co., Ltd.],a corporation organized and existing under the laws of the Republic of Korea, having an office at [159, Samsung_dong, Kangnam_ku, Seoul, Korea] (hereinafter referred to as LICENSEE).
WITNESSETH :
WHEREAS, LICENSOR now manufactures and sells, in [the United States of America] and elsewhere, a proprietary line of [widget sets formed from glass], and a proprietary line of [grosbeaks formed from carbon fibers] ; and
WHEREAS, LICENSOR owns certain trademarks, patent rights, and technological information including know_how, skill and experience relating to said Products as hereinafter defined ; and
WHEREAS, LICENSEE desires to obtain from LICENSOR the right to use such trademarks, patent rights and technological information to manufacture, use and sell the Products ; and also desires to obtain technical assistance from LICENSOR in the use of such patent rights and technological information, and LICENSOR is willing to grant such rights and to provide such technical assistance to LICENSEE all as hereinafter more fully provided,
NOW THEREFORE, in consideration of the covenants herein contained, the parties agree as follows;
Section 1. Definitions
For the purpose of this Agreement :
(1) Products means the following LICENSOR products :
[(i) all widget sets formed from molten glass and glass fiber, including all series A frames and bottoms, and (ii) all grosbeaks formed from carbon fibers, but not including grosbeak casings, bearing or seals.]
(2) Territory means [the Republic of Korea]. |