Option to License
ocstoc Legal Agreements
This Option to License Agreement is intended to be used by an
Individual/Company (Grantor) to grant an option to acquire an
exclusive, worldwide license to practice Patent Rights and
Technology Rights, to the other Individual/Company (Grantee)
subject to non-disclosure of Confidential Information and in
consideration of payment by the Grantee to the Grantor.
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© Copyright 2011© Docstoc, Inc., 2010, 2011document proprietary, copy not 1
OPTION TO LICENSE AGREEMENT
THIS OPTION TO LICENSE AGREEMENT (hereinafter “Agreement”) is made and
entered into between _________________________ [Instruction: Insert the name of
company], a company organized under _______________ [Instruction: Insert the state] laws
(hereinafter “Grantor”) having its principal office at,
______________________________________________ [Instruction: Insert the address of
company] and __________________________ [Instruction: Insert the name of company] a
company organized under the laws of __________________ [Instruction: insert the state]
(hereinafter “Grantee”), having its principal office at
__________________________________________ [Instruction: Insert the address of
Patent and Technology Rights means the intellectual property described in Exhibit A.
2. Grant of Option: Grantor hereby grants Grantee an exclusive option to acquire an
exclusive, worldwide license to practice Patent Rights and Technology Rights under terms
set forth in the License Agreement attached as Exhibit B.
3. Exercise of the Option: Grantee may exercise its option at any time during the option
period by notifying Grantor in writing of its intent to exercise this option.
4. Confidential Information:
a) Upon the execution of this Agreement, Grantor will disclose all relevant Confidential
Information as defined in Section 4 (b)) below, other information, and data relating to
Patent and Technology Rights, to enable Grantee to evaluate the possible commercial
significance of the Patent Rights and Technology Rights.
b) In addition to the initial disclosure described in Section 4 (a), the parties may disclose
other Confidential Information to each other, from time to time, in connection with work
contemplated under this Agreement. All such information whether disclosed initially or
during the option period will be referred to as “Confidential Information.” Each party will
use reasonable efforts to prevent the disclosure of any of the other party's Confidential