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Ohio Option to License Agreement

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This Option to License Agreement provides an individual or company a time-limited right to obtain a full license agreement by exercising the option. These agreements are typically used in situations where the individual or company needs to conduct further research and development to evaluate the technology prior to entering into a full license agreement. During the option period, the individual or company has an exclusive opportunity to understand the technology and its market potential. At any time during the option period, a formal license can be signed. This document is useful to an individual or company located in Ohio that is interested in acquiring intellectual property rights, but needs additional time to conduct research.

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