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ICC today announced the release of the ICC Model International Transfer of Technology Contract.
This publication is the newest addition to the series of international model business contracts developed and published by ICC. It is particularly useful as an increasing number of companies around the world conclude transactions involving the transfer of technology among business entities.
ICC Model International Transfer of Technology Contract addresses the situation where the owner of a well-known trademark licences it to a company which will use it with respect to products other than those manufactured or sold by the licensor. In this case, it is assumed that the licensed products will be designed and developed by the licensee, but the licensor needs to ensure that the licensed products conform to the overall image of the licensor and its trademarks.
Parties are advised to use the ICC Model International Transfer of Technology Contract as a basis for negotiation and for drawing up their own contracts, possibly with the assistance of a lawyer with expertise in international contracts.
ICC Model International Transfer of Technology Contract is another important resource for attorneys and companies engaged in international trade. Produced by experts at the ICC Commission on Commercial Law and Practice, it carries the authority of ICC, the organization that pioneered many of the basic rules and mechanisms at the heart of international business.
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