TECHNICAL LICENSING AGREEMENT made by and between [the licensing company],a corporation organized and existing under the laws of the [Nation of the licensing company], having an office at [Address of LICENSOR](hereinafter referred to as LICENSOR); and [the licensed company],a corporation organized and existing under the laws of the Republic of Korea, having an office at [Address of LICENSEE](hereinafter referred to as LICENSEE)
WITNESSETH:
WHEREAS, LICENSOR now manufactures and sells, in the [Nation of LICENSOR] and elsewhere, a proprietary line of []; 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 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;
Article 1. Definitions
For the purpose of this Agreement:
1. Products means the following LICENSOR products:
[Description of Products]
2. “Territory means [the Republic of Korea].
3. Trademarks means those trademarks specifically identified in Schedule (B) attached hereto which is made a part of this Agreement and such other trademarks as may be inserted in Schedule (B) by mutual agreement from time to time during the life of this Agreement.
4. Patent Rights means all patents and patent applications for inventions, designs processes, models, or anything patentable, for any country in the world, or made at any time prior to the expiration or termination of this Agreement, and which can be used in the manufacture, use, or sale of the Products.
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