Examples of Biological Material in a sentence
Licensee is not permitted to transfer Biological Material to any third party without prior written consent from Stanford.
Licensee also acknowledges that Stanford does not represent or warrant that the exploitation of Biological Material will be successful.
The license does not include the right to use any products or processes derived from the Biological Material directly for profit-making or commercial purposes, such as manufacture, use, and sale of product.
Licensee agrees to negotiate in good faith a license with Stanford before marketing for sale any product or process derived from Biological Material.
For continued use of Biological Material, Licensee will pay an annual license maintenance royalty of $5,000.00 beginning on the first anniversary of the Effective Date and each anniversary thereafter.