Westminster international university in tashkent

Appendix C: Licensing Agreement

Agreed Wording

• “John Grisham (‘Licensor’) assigns GoWireless (‘Licensee’) Ltd with non-exclusive license for IP, which grants Licensee to manufacture the product using the licensed IP under the name of the company, to offer the sale of this product and to get the profit from the sale of this product. “ • “The Licensor only transfers the IP rights to the Licensee by granting non-exclusive license and Licensor maintains the title and ownership of IP.” • The Licensee is obliged to pay the royalty of (***%) from the revenue made by the IP every (‘regular basis that you wish to get the royalty, such as in month, quarter or a year’) • The Licensor has the right to terminate the licensing agreement, if: - The Licensee fails to provide royalties; - The agreed licensing period expires; - The Licensor stops being shareholder in the Licensee’s company