Date: Thu, 18 Dec 1997 11:46:28 GMT Server: Apache/1.1.1 Content-type: text/html Set-Cookie: Apache=heart23763882445588579; path=/ Content-length: 4071 Last-modified: Sun, 14 Dec 1997 04:00:43 GMT
Technology Interests and Operating Policies
REFAC is very selective in the technologies and products for which it undertakes licensing responsibilities. In the United States and abroad, we attempt to locate industrial technologies having distinctively advantageous features that are protected by patents and confidential know-how. Technologies submitted to REFAC are evaluated on the basis of their proprietary features, innovative merit, technological significance, competitive conditions and earning potential.
In determining our interest in the patent of a prospective client, we may become aware of various products that appear to have a relationship to such patent. In such event, we intensively investigate relevant issues of patent validity and indicated infringement details. If we conclude that there is substantial merit in the client's patent position, that there is strong basis for concluding that infringement exists, and that there is substantial economic value involved, serious efforts are then made to license the manufacturer of such product. Often these efforts are successful. If not, we may consider it appropriate, with the client as co-plaintiff, to initiate infringement litigation.
The following outlines the basic terms upon which REFAC undertakes a licensing responsibility:
- Clients give REFAC the exclusive right to grant licenses covering products and processes covered by patents, copyrights, knowhow and/or trademarks in designated countries.
- All licensing activities for clients are conducted entirely at REFAC's own risk and expense.
- Gross income from license agreements is shared 50-50 between REFAC and its client.
- If within a specified period of time, the client's income from REFAC's licensing activities does not reach a designated minimum amount, the client has the right to terminate the relationship.
- In those instances where patent infringement litigation is commenced, clients are normally shielded from exposure for litigation costs.
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