The work for leases involves the actual transfer of ownership of a certain piece of intellectual property of the original author or owner. On the other hand, exclusive licenses do not confer ownership on the taker; they only authorize the purchaser to use the property in question for the duration of the licence. If you grant an exclusive or non-exclusive license, you will retain ownership of the intellectual property in question. You can revoke this license if you find that the licensee has violated the terms of the agreement. However, in cases where the agreement is vague or non-existent, implicit and ambiguous ownership allocations are often created, requiring legal action to require it. 2.2 Harvard is licensed to issue licenses under PATENT RIGHTS. At the end of the day, there is no one-way approach to exclusivity. Each company must decide whether an exclusive licensing agreement is worth paying a high-end price or whether it would be sufficient to obtain guarantees for limited competition in a particular geographic area or sector, often at a much lower price. Non-exclusive licenses confer intellectual property rights on the taker, but also allow the donor to exploit the intellectual property concerned, including licensing other companies. As a general rule, non-exclusive takers face competition from other licensees. However, non-exclusive licenses may ultimately be more lucrative and beneficial to the licensee in the long run. Non-exclusive licences allow for greater flexibility in the number of licences granted, while the licensee can retain the rights to develop and operate its own intellectual property. Non-exclusive agreements are generally good for intellectual property, which can be used happily by many parties and/or require serious investment in the market.
Non-exclusive licenses can also be beneficial to end-users of products developed around licensed intellectual property – through competition. Competing companies are naturally motivated by modifying and improving products and services to improve performance, as these products and services are considered superior and benefiting from a benefit. The licensee, which beats its competitors in the market, is one step ahead of other competitors. 4.1 LICENSEE pays HARVARD a non-refundable licence fee of $[amount] dollar (amount)). A non-exclusive license gives the purchaser the right to use intellectual property, but means that the licensee is free to use the same intellectual property and allow any number of other takers to benefit from the same intellectual property. 5.1 Prior to the signing of this agreement, LICENSEE provided Harvard with a written research and development plan under which LICENSEE plans to commercially exploit the purpose of the licensing granted under this agreement after the implementation of this agreement. This plan includes sales forecasts and proposed marketing efforts. An exclusive license means that no person or company other than the licensee can exploit the relevant intellectual property rights.