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Patent Purchase Agreement
"I need a Patent Purchase Agreement for my technology company to acquire a semiconductor manufacturing patent from a local Philippine corporation, with a simple one-time payment structure and closing planned for March 2025."
1. Parties: Identification of the seller and purchaser, including complete legal names and addresses
2. Background: Context of the agreement, including brief description of the patent(s) and purpose of the transfer
3. Definitions: Definitions of key terms used throughout the agreement
4. Subject Matter of Sale: Detailed description of the patent(s) being sold and scope of rights being transferred
5. Purchase Price and Payment Terms: Agreement on consideration, payment schedule, and payment mechanics
6. Closing: Conditions precedent, closing mechanics, and timing
7. Seller's Representations and Warranties: Warranties regarding ownership, validity, non-infringement, and encumbrances
8. Purchaser's Representations and Warranties: Basic representations about authority and capacity to enter into the agreement
9. Pre-Closing Obligations: Obligations of both parties before the transfer is completed
10. Transfer and Registration: Process for executing transfer documents and recording with IP Office
11. Tax Matters: Allocation of tax obligations and responsibilities
12. Confidentiality: Obligations regarding confidential information exchanged during the transaction
13. Governing Law and Jurisdiction: Choice of Philippine law and forum for dispute resolution
14. General Provisions: Standard boilerplate provisions including notices, amendments, and severability
1. Know-How Transfer: Terms for transfer of associated technical knowledge and documentation, if applicable
2. Transition Services: If seller agrees to provide support services post-closing
3. Existing Litigation: Handling of any ongoing patent litigation or disputes
4. License Back: Terms if seller requires continued limited use of the patent(s)
5. Existing Licenses: Treatment of existing licenses and licensees
6. Employee Matters: If relevant inventors or key employees are part of the transaction
7. Foreign Registration: If patent has international registrations requiring additional transfer steps
8. Earn-out Provisions: If purchase price includes performance-based payments
9. Competition Restrictions: Non-compete or other restrictive covenants if required
1. Schedule A - Patent Schedule: Detailed list of patents including registration numbers, jurisdictions, and expiration dates
2. Schedule B - Patent Assignment Form: Form of assignment to be filed with IP Office
3. Schedule C - Encumbrances: List of existing licenses, security interests, or other encumbrances
4. Schedule D - Required Consents: List of third-party consents required for transfer
5. Schedule E - Disclosure Schedule: Exceptions to representations and warranties
6. Schedule F - Transfer Documents: Forms of additional transfer documents required for closing
7. Appendix 1 - Technical Description: Detailed technical description of the patented invention(s)
8. Appendix 2 - Payment Schedule: Detailed payment terms and mechanics if complex payment structure
Authors
Technology
Pharmaceuticals
Biotechnology
Manufacturing
Electronics
Telecommunications
Chemical
Automotive
Semiconductor
Research & Development
Healthcare
Consumer Goods
Industrial Equipment
Software Development
Clean Energy
Legal
Intellectual Property
Research & Development
Business Development
Finance
Technical Operations
Innovation
Mergers & Acquisitions
Patent Operations
Corporate Development
Technology Transfer
Regulatory Affairs
Chief Technology Officer
Chief Legal Officer
Patent Attorney
Intellectual Property Counsel
Research & Development Director
Innovation Manager
Legal Counsel
Technology Transfer Officer
Business Development Director
Chief Executive Officer
Chief Financial Officer
Patent Engineer
Technical Director
Licensing Manager
Intellectual Property Manager
Corporate Counsel
Research Scientist
Innovation Director
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