BRIEF / COLLAPSED
U.S. PATENT FOR SALE AGREEMENT & PRICE
U.S. PATENT FOR SALE AGREEMENT & PRICE
To Purchase the Tri-Box® food carrier U.S. Patent can be as easy as writing a check to acquire this asset. Terms and purchase for the U.S. Patents to be determined by industry and other factors, as well as variations to conform to local laws and regulations. Not presented on the website page are other agreement points as listed below. This page is meant to define the Price and Initial/Intent Fee. This presentation is written in a simple easy to understand way. A formal agreement will be presented to serious interested organizations. The Price and Initial/Intent fees are indicated. Price may change without notice.
BRIEF / COLLAPSED U.S. PATENT FOR SALE AGREEMENT
THIS AGREEMENT made this __ day of _________, 202_ (the “Effective Date”), between FURIO INTELLECTUAL PROPERTY, LLC (the “ASSIGNOR”) an Illinois Limited Liability Company having principal offices in Carpentersville, Illinois, and ________________________________________________________________________________________ (the “ASSIGNEE”),
a ___________________________________________________________________________________ [Corporation/Company]
having its principal offices in _______________________________________________________________________________.
Whereas letters patent of the United States. Nos. 10,233,001, issued on March 19, 2019, and 11,046,493, issued on June 29, 2021, each for embodiments for corrugated cardboard box carriers to the ASSIGNOR.
Whereas the ASSIGNEE desires to purchase for an agreed amount and complete ownership.
1. The ASSIGNOR desires to assign and transfer to the ASSIGNEE all of its right, title, and interest in and to the "Intellectual Property; and
2. The ASSIGNEE desires to acquire all the ASSIGNOR'S right, title and interest in to the Intellectual Property: and
It is therefore agreed; and
3. Each Party is duly authorized and capable of entering into this Agreement.
1. Price and Initial/Intent Fee.
a. Price.
The purchase price of the United States Patent Nos. 10,233,001, and 11,046,493 patents, in the amount of $575,000.00 with a timeframe within thirty days (30) of the Effective Date of this intellectual Property Sale Agreement or two (2) years with quarterly payments (3 months) to be agreed by the ASSIGNOR upon of the Effective Date of this intellectual Property Sale Agreement.
b. Initial/Intent Fee Agreement.
The term “Initial/Intent” Fee is used to refer to the “deposit money” paid by ASSIGNEE that accompany an offer to purchase the U.S. Patents Nos. 10,233,001, and 11,046,493. The Fee is solely to show the ASSIGNEES “good faith” intent to complete the purchase. The agreements will provide that the “Initial/Intent” fee money will be forfeited to the ASSIGNOR should the ASSIGNEE default under the terms of an agreement.
Within five (5) business days of execution of this Agreement, ASSIGNEE shall pay to ASSIGNOR an Initial /Intent Fee of $8,000.00. This Initial/Intent fee money is to serve as entering into a “good faith” intent to complete the purchase contract. The ASSIGNOR may withdraw the Tri-Box® Food Carrier U.S. Patent from the market. This Initial/Intent fee money, or good faith deposit money, demonstrates your seriousness about purchasing the Tri-Box® Food Carrier U.S. Patents, Intellectual Property.
Applied "Initial/Intent" Fee/Deposit
ASSIGNEE shall pay a "Inital/Intent" fee deposit/money to ASSIGNOR in the amount of $8,000.00 within five (5) business days of mutual acceptance of the Agreement after the "Effective Date". If the sale of the U.S. Patents Nos. 10,233,001, and 11,046,493 ("Intellectual Property") is consummated under the Agreement, the "Initial/Intent" Fee Money of $8,000.00 shall be paid to ASSIGNOR and applied as a credit against the Purchase Price of $575,000.00 at completion/closing of the agreement. If ASSIGNEE terminates this Agreement in accordance with any right to terminate granted to ASSIGNEE by the terms of this Agreement, the "Initial/Intent" Fee Money shall be returned to ASSIGNEE by Escrow Agent, and neither party hereto shall have any further rights or obligations under this Agreement except for such obligations which by their terms expressly survive the termination of this Agreement.
Non-Refundable "Inital/Intent" Fee/Deposit
ASSIGNEE shall pay a "Inital/Intent" fee deposit/money to ASSIGNOR in the amount of $8,000.00 within five (5) business days of mutual acceptance of the Agreement after the "Effective Date". If this transaction fails to close for any reason other than default by ASSIGNOR, the “Initial/Intent” Fee deposit shall be non-refundable and shall remain the property of the ASSIGNOR. The "Initial/Intent" Fee Money shall be released to ASSIGNOR five (5) business days after mutual acceptance of this Agreement. ASSIGNEE and ASSIGNOR agree that the holder of the "Initial/Intent" Fee Money is instructed to release the "Initial/Intent" Fee Money to ASSIGNOR without need of further authorization by ASSIGNEE. When due for release to ASSIGNOR the "Initial/Intent" Fee Money shall convert to a non-refundable deposit applicable towards the Purchase Price and shall immediately be the property of ASSIGNOR and no longer "Initial/Intent" Fee Money. If this transaction fails to close for any reason other than default by ASSIGNOR, the non-refundable Fee Money/deposit shall remain the property of ASSIGNOR. This provision does not require the holder of the "Initial/Intent" Fee Money to release any funds that have not become available from ASSIGNEE as liquid funds.
Not presented on this website page are other areas of the agreement as listed below. This page is meant to define the Price and Initial/Intent Fee (Applied and Non-Refundable).
• DEFINITIONS
• ASSIGNMENT AND ASSUMPTION
• PURCHASE PRICE; CLOSING
• REPRESENTATIONS AND WARRANTIES
• CERTAIN COVENANTS
• CONDITIONS TO CLOSING
• TERMINATION
• GENERAL PROVISIONS
In witness whereof, the parties have executed this Patent Sale Agreement.
Seller:
FURIO INTELLECTUAL PROPERTY, LLC
By: _________________________________
Sante Furio, ASSIGNOR
Puchaser:
[NAME]
By: __________________________________
Name and Title
THIS AGREEMENT made this __ day of _________, 202_ (the “Effective Date”), between FURIO INTELLECTUAL PROPERTY, LLC (the “ASSIGNOR”) an Illinois Limited Liability Company having principal offices in Carpentersville, Illinois, and ________________________________________________________________________________________ (the “ASSIGNEE”),
a ___________________________________________________________________________________ [Corporation/Company]
having its principal offices in _______________________________________________________________________________.
Whereas letters patent of the United States. Nos. 10,233,001, issued on March 19, 2019, and 11,046,493, issued on June 29, 2021, each for embodiments for corrugated cardboard box carriers to the ASSIGNOR.
Whereas the ASSIGNEE desires to purchase for an agreed amount and complete ownership.
1. The ASSIGNOR desires to assign and transfer to the ASSIGNEE all of its right, title, and interest in and to the "Intellectual Property; and
2. The ASSIGNEE desires to acquire all the ASSIGNOR'S right, title and interest in to the Intellectual Property: and
It is therefore agreed; and
3. Each Party is duly authorized and capable of entering into this Agreement.
1. Price and Initial/Intent Fee.
a. Price.
The purchase price of the United States Patent Nos. 10,233,001, and 11,046,493 patents, in the amount of $575,000.00 with a timeframe within thirty days (30) of the Effective Date of this intellectual Property Sale Agreement or two (2) years with quarterly payments (3 months) to be agreed by the ASSIGNOR upon of the Effective Date of this intellectual Property Sale Agreement.
b. Initial/Intent Fee Agreement.
The term “Initial/Intent” Fee is used to refer to the “deposit money” paid by ASSIGNEE that accompany an offer to purchase the U.S. Patents Nos. 10,233,001, and 11,046,493. The Fee is solely to show the ASSIGNEES “good faith” intent to complete the purchase. The agreements will provide that the “Initial/Intent” fee money will be forfeited to the ASSIGNOR should the ASSIGNEE default under the terms of an agreement.
Within five (5) business days of execution of this Agreement, ASSIGNEE shall pay to ASSIGNOR an Initial /Intent Fee of $8,000.00. This Initial/Intent fee money is to serve as entering into a “good faith” intent to complete the purchase contract. The ASSIGNOR may withdraw the Tri-Box® Food Carrier U.S. Patent from the market. This Initial/Intent fee money, or good faith deposit money, demonstrates your seriousness about purchasing the Tri-Box® Food Carrier U.S. Patents, Intellectual Property.
Applied "Initial/Intent" Fee/Deposit
ASSIGNEE shall pay a "Inital/Intent" fee deposit/money to ASSIGNOR in the amount of $8,000.00 within five (5) business days of mutual acceptance of the Agreement after the "Effective Date". If the sale of the U.S. Patents Nos. 10,233,001, and 11,046,493 ("Intellectual Property") is consummated under the Agreement, the "Initial/Intent" Fee Money of $8,000.00 shall be paid to ASSIGNOR and applied as a credit against the Purchase Price of $575,000.00 at completion/closing of the agreement. If ASSIGNEE terminates this Agreement in accordance with any right to terminate granted to ASSIGNEE by the terms of this Agreement, the "Initial/Intent" Fee Money shall be returned to ASSIGNEE by Escrow Agent, and neither party hereto shall have any further rights or obligations under this Agreement except for such obligations which by their terms expressly survive the termination of this Agreement.
Non-Refundable "Inital/Intent" Fee/Deposit
ASSIGNEE shall pay a "Inital/Intent" fee deposit/money to ASSIGNOR in the amount of $8,000.00 within five (5) business days of mutual acceptance of the Agreement after the "Effective Date". If this transaction fails to close for any reason other than default by ASSIGNOR, the “Initial/Intent” Fee deposit shall be non-refundable and shall remain the property of the ASSIGNOR. The "Initial/Intent" Fee Money shall be released to ASSIGNOR five (5) business days after mutual acceptance of this Agreement. ASSIGNEE and ASSIGNOR agree that the holder of the "Initial/Intent" Fee Money is instructed to release the "Initial/Intent" Fee Money to ASSIGNOR without need of further authorization by ASSIGNEE. When due for release to ASSIGNOR the "Initial/Intent" Fee Money shall convert to a non-refundable deposit applicable towards the Purchase Price and shall immediately be the property of ASSIGNOR and no longer "Initial/Intent" Fee Money. If this transaction fails to close for any reason other than default by ASSIGNOR, the non-refundable Fee Money/deposit shall remain the property of ASSIGNOR. This provision does not require the holder of the "Initial/Intent" Fee Money to release any funds that have not become available from ASSIGNEE as liquid funds.
Not presented on this website page are other areas of the agreement as listed below. This page is meant to define the Price and Initial/Intent Fee (Applied and Non-Refundable).
• DEFINITIONS
• ASSIGNMENT AND ASSUMPTION
• PURCHASE PRICE; CLOSING
• REPRESENTATIONS AND WARRANTIES
• CERTAIN COVENANTS
• CONDITIONS TO CLOSING
• TERMINATION
• GENERAL PROVISIONS
In witness whereof, the parties have executed this Patent Sale Agreement.
Seller:
FURIO INTELLECTUAL PROPERTY, LLC
By: _________________________________
Sante Furio, ASSIGNOR
Puchaser:
[NAME]
By: __________________________________
Name and Title