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The Non-Exclusive Patent License Agreement is a crucial document used when a patent holder wishes to monetize their intellectual property by granting usage rights to multiple parties while retaining ownership of the patent. This agreement type is particularly relevant in the Indian market, where technology transfer and innovation partnerships are growing rapidly. It is structured under Indian law, particularly the Patents Act, 1970, and includes essential provisions for protecting the interests of both licensor and licensee. The document is commonly used in scenarios involving technology transfer, manufacturing rights, research and development collaborations, or commercialization of patented innovations. It typically includes detailed terms about the scope of license, territorial restrictions, royalty structures, quality control measures, and compliance with Indian regulatory requirements. This agreement type is essential for businesses looking to expand their technology portfolio without seeking exclusive rights, making it particularly suitable for competitive markets where multiple players may need access to the same patented technology.
