Replace Cross into the Commercialization Agreement and eSign it in minutes

Aug 6th, 2022
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How to Replace Cross into the Commercialization Agreement

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hello everybody and welcome to the 2022 intellectual property speaker series presented by the mit technology licensing office and mit libraries todays session is called commercialization of mit technology im deirdre zamet and ill be presenting today with my colleague lauren foster and im also here with my colleague colleague amelia mcgowan is going to be one of the moderators the seminar is being recorded and will be available online shortly please look at the chat for additional information about the format of this session and we thank you for joining and i will hand over the presentation to my colleague lauren for us to start talking about the commercialization of mit technology excellent thanks deirdre and welcome all uh appreciate your joining us this afternoon um my name is lauren foster im the associate director of the mit technology licensing office uh just a few words about myself i have a technical training in the life sciences and after my doctorate ive been pursuing va

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An agreement between two entities to collaborate on commercializing one or more products incorporating one partys patentable technology, know-how, or other intellectual property (IP).
Cross-licensing is when two people who own patents agree to share them with each other so they can both use the technology without getting sued. This helps inventors make money from their ideas and encourages them to keep inventing new things.
A cross-licensing agreement is a contractual arrangement between two or more parties in which each party is granted rights to a piece of technology, product, research, or other subject. Cross-licenses generally occur between companies that hold patents over different aspects of the same product.
For example, Apple and Microsoft have had cross-licensing agreements since the 1990s. The agreements between the two tech forces have covered design patents, technical software features and more, and at one point covered any patent filed by either company.
Cross-licensing of patents is illegal. Cross-licensing occurs when two patent holders license each other to use their patents only on the condition that neither licenses anyone else to use his or her patent without the others consent. Cross-licensing is illegal because it tends to reduce competition.
Cross Licensing refers to the cross-license agreement between patentees, entered into for purposes of avoiding litigation concerning conflicting patents. It helps preserve the financial incentives for inventors to commercialize their existing innovations and undertake new, potentially patentable research.
Rather than keeping others from protected information, a cross-licensing agreement grants mutual rights to multiple parties. This arrangement gives two or more parties the right to use each others patented property without worrying about lawsuits.
Some examples of intellectual property cross-licensing include some recognizable companies: Google and Samsung Electronics reinforced ties between Android and one of the worlds largest manufacturer of smartphones.

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