Licensing

Patent License Agreement

Effective Date: [Date of Agreement]

Parties:

Licensor: Paul Wennberg, Company: Triakis
Licensee: [Licensee’s Full Legal Name]
Background:

The Licensor owns the patent rights to a unique geometry that transforms extrusions into 3D assembled structures, as described in U.S. Patent No. 10,829,932.

Agreement:

Grant of License:
The Licensor hereby grants the Licensee a non-exclusive, worldwide license to use the patented technology for the purpose of creating 3D assembled structures from extrusions.
The license covers all units of extrusion lengths used by the Licensee to build such structures during the term of this agreement.
Royalty Fee:
The Licensee agrees to pay a royalty fee equal to 4% of the cost for every unit length of the patented extrusion used in the construction of 3D assembled structures.
The royalty fee shall be calculated based on the actual manufacturing cost of each unit length of extrusion.
Payment and Reporting:
The Licensee shall provide quarterly reports to the Licensor detailing the number of units of patented extrusion used during the reporting period.
Payment of the royalty fee shall be made within 30 days of the end of each quarter.
Distribution of Royalty Fee:
The total royalty fee collected shall be divided as follows: 
50% to the Licensor
50% to a list of qualified carbon sequestering companies provided by the Licensor.
Term and Termination:
This license agreement shall remain in effect until terminated by either party.
Either party may terminate the agreement with 30 days’ written notice.
Confidentiality:
Both parties agree to keep all confidential information related to the patented technology confidential and not disclose it to third parties.
Signatures:

By signing below, the parties acknowledge their acceptance of the terms and conditions outlined in this patent license agreement.

TBD: Qualification of Carbon Sequestering Companies

See Verra.org, for example.

TBD: Foreign companies.  License needed to use patent in the US.

Please support Carbon Sequestering plans.

Rough Draft