TECHNOLOGY TRANSFER AGREEMENT
This Agreement is made on [Date] between [Transferor] and [Transferee]
- Parties. This Technology Transfer Agreement is executed between [Transferor], [Address] (the "Transferor") and [Transferee], [Address] (the "Transferee").
- Recitals. The Transferor has developed the Technology described herein and has agreed to transfer/license it to the Transferee.
- Technology & Consideration. The Transferor shall transfer the [Technology / Process / Know-how] to the Transferee for a consideration of Rs. [Amount] plus royalties, effective [Effective Date].
- Scope of Transfer. The transfer includes documentation, designs, specifications, technical data and the right to manufacture/use within [Territory].
- Technical Assistance & Obligations. The Transferor shall provide training, technical assistance and support for [__] months to enable effective use of the Technology.
- Improvements. Improvements developed by either party shall be [shared / owned as agreed], with the other party granted a licence to use them.
- Representations & Warranties. The Transferor warrants that it owns or is entitled to transfer the Technology and that it does not infringe third-party rights.
- Confidentiality. The Transferee shall keep the Technology and know-how confidential and use it solely for the permitted purpose.
- Royalty. The Transferee shall pay a running royalty of [__]% of net sales, subject to applicable withholding tax and FEMA regulations.
- Indemnity. The Transferor shall indemnify the Transferee against third-party IP infringement claims relating to the Technology.
- Term & Termination. This Agreement continues for [__] years, terminable on material breach; on termination the Transferee shall cease using the Technology unless the transfer is outright.
- Governing Law & Jurisdiction. This Agreement is governed by the laws of India and subject to the jurisdiction of courts at [City].
- Dispute Resolution. Disputes shall be referred to arbitration under the Arbitration and Conciliation Act, 1996, seated at [City].
IN WITNESS WHEREOF the parties have executed this Agreement on the date first written above.
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[Transferor]
[Transferor]
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[Transferee]
[Transferee]
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Witness 1: [Name & Address]
Witness 1: [Name & Address]
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Witness 2: [Name & Address]
Witness 2: [Name & Address]