A Technology License Agreement

The Intellectual Property Co. must, throughout the term of the agreement, be authorized at its own expense and expense by a qualified insurance company licensed for its activities in [the State] and having a moody`s rating of B+ or a better standard of product liability insurance, which designates the licensor (Patent Technology Inventor), and its officers, directors, employees, representatives and shareholders, as additional insureds. This Directive provides protection against all claims, claims and demands for remedies resulting from defects or the alleged or other non-performance or use of the technology or equipment associated with it. The amount of coverage is set out in Appendix A. The policy wins a [number] of days of notification of the licensor (Patent Technology Inventor) by the insurer by registered letter or registered letter, return requested, in case of modification, cancellation or termination. The Licensee (Intellectual Property Co.) undertakes to provide the Licensor (Patent Technology Inventor) with a certificate of insurance within [number] of days after the execution of this Agreement, which proves it, if feasible, and in no case may the Licensee (Intellectual Property Co.) use the technology until such proof of insurance has been received by the Licensor (Patent Technology Inventor). If you need help creating a technology license agreement, you can publish your legal needs on the UpCounsel marketplace. UpCounsel only accepts the top 5 percent of lawyers on its site.