BRIEF / COLLAPSED
U.S. PATENT LEASE AGREEMENT & PRICE
U.S. PATENT LEASE AGREEMENT & PRICE
To Lease the Tri-Box® food carrier U.S. Patent is easy. Terms and lease for the U.S. Patents to be determined by industry, and other factors, as well as variations to conform to local laws and regulations. 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. Contact Sante Furio by email at [email protected] for sale price.
LEASE/LICENSE AGREEMENT
Tri-Box® is willing to consider granting exclusive and non-exclusive licenses with a licensing fee limited by duration of time, business segment, or other factor under its patents upon reasonable and non-discriminatory terms and conditions. The fee for use of Tri-Box®’s patents shall be based on an initial/intent fee and quarterly licensing fee payable to Tri-Box®. This License is non-transferable and non-sub licensable. Tri-Box® current patent licensing practices is subject to change at anytime, as well as to variation to conform to local laws and regulations.
Tri-Box® is willing to consider granting exclusive and non-exclusive licenses with a licensing fee limited by duration of time, business segment, or other factor under its patents upon reasonable and non-discriminatory terms and conditions. The fee for use of Tri-Box®’s patents shall be based on an initial/intent fee and quarterly licensing fee payable to Tri-Box®. This License is non-transferable and non-sub licensable. Tri-Box® current patent licensing practices is subject to change at anytime, as well as to variation to conform to local laws and regulations.
U.S. PATENT EXCLUSIVE AND NON EXCLUSIVE LICENSE AGREEMENT
THIS LICENSE AGREEMENT made this __ day of _________, 2024 (the “Effective Date”), between FURIO INTELLECTUAL PROPERTY, LLC (the “ASSIGNOR (Licensor)”) an Illinois Limited Liability Company having principal offices in Carpentersville, Illinois, and ________________________________________________________________________________________ (the “Licensee”),
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 Licensor.
Whereas the ASSIGNEE (Licensee) desires to manufacture and sell corrugated cardboard box carriers (“Units”) as covered by such letters patent in the United States defined herein.
It is therefore agreed:
1. [Non-Exclusive/Exclusive] License. The ASSIGNOR (Licensor) hereby grants to the ASSIGNEE (Licensee) the [non-exclusive/exclusive] right and license during the Term hereof, in the geographic region defined herein in the United States of America and its territories, to manufacture, use, and sell "Units" containing the improvements covered by letters patent of the United States Numbers 10,233,001 and 11,046,493, issued to and owned by the Licensor. This License is non-transferable and sub-licensable.
2. Geographic Region. This Licensor hereby grants to the ASSIGNEE (Licensee) the above-defined license in the following geographic region of the United States.
3. Lease Fees and Royalties.
a. Initial Fee. Within five (5) business days of execution of this Agreement, ASSIGNEE (Licensee) shall pay to ASSIGNOR (Licensor) an Initial/Intent Fee of $9,xxx.00.
b. Royalties/Fee. U.S.A. National Exclusive Lease Agreement (All U.S. States and District of Columbia) (one year minimum agreement) ASSIGNEE (Licensee) shall pay a royalty/fee to ASSIGNOR (Licensor) for a U.S.A. National Exclusive Agreement in the amount of $18,xxx.00 per calendar quarter (3 months) for the minimum term of one (1) year or number of years determined by this Agreement, paid by ASSIGNEE (Licensee) to ASSIGNOR (Licensor) at the beginning of each calendar quarter. In the event that the first or last quarter of this Agreement is a partial quarter, the quarter shall be prorated.
c. Royalties/Fee. U.S.A. National Non-Exclusive Lease Agreement (All U.S. States and District of Columbia) (one year minimum agreement) ASSIGNEE (Licensee) shall pay a royalty/fee to ASSIGNOR (Licensor) for a U.S.A. National Exclusive Agreement in the amount of $13,xxx.00 per calendar quarter (3 months) for the minimum term of one (1) year or number of years determined by this Agreement, paid by ASSIGNEE (Licensee) to ASSIGNOR (Licensor) at the beginning of each calendar quarter. In the event that the first or last quarter of this Agreement is a partial quarter, the quarter shall be prorated.
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 lease the U.S. Patents Nos. 10,233,001, and 11,046,493. The “Initial/Intent” Fee is solely to show the ASSIGNEES “good faith” to intent to enter into the lease agreement. 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 $9,xxx.00. This Initial/Intent fee money is to serve as entering into a “good faith” intent to complete the lease agreement. 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 leasing 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 $9,xxx.00 within five (5) business days of mutual acceptance of the Agreement after the "Effective Date". If the lease agreement 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 $9,xxx.00 shall be paid to ASSIGNOR and applied as a credit against the Lease Agreement Price 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 "Initial/Intent" Fee/Deposit
ASSIGNEE shall pay a "Inital/Intent" fee deposit/money to ASSIGNOR in the amount of $9,xxx.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.
4. Term. The term of this License Agreement shall be from the effective date for a minimum period of 1 calendar year or ____ years, subject to the following:
a. ASSIGNOR (Licensee’s) default. The ASSIGNOR (Licensor ) may terminate this Agreement by giving notice thereof to the ASSIGNEE (Licensee) if:
i. The ASSIGNEE (Licensee) makes a general assignment of all or substantially all of its assets for the benefit of creditors; or,
ii. A petition in bankruptcy or under any insolvency law is filed by or against the ASSIGNEE (Licensee) and such petition is not dismissed within sixty (60) days after it has been filed; or,
iii. The ASSIGNEE (Licensee) commits a breach of a material obligation hereunder; provided, however, except for a breach which is a failure to timely make a payment hereunder (in which case the ASSIGNEE (Licensee) shall have 10 days to cure such breach). In the event a breach by the Licensee is capable of being cured, the ASSIGNOR (Licensor ) may not terminate this Agreement unless and until the ASSIGNEE (Licensee) shall have failed to correct such breach within thirty (30) days after it has been served with a notice from the Licensor specifying the breach, requiring its correction, and stating the Licensor’s intention to terminate this Agreement if the breach is not corrected within such thirty (30) day period.
b. Abandonment. If the ASSIGNEE (Licensee) shall abandon the exploitation of the patented improvements by failing for a period of one calendar quarter to manufacture at least 26,000 Units, the ASSIGNOR (Licensor) may on 30 days’ written notice to the ASSIGNEE (Licensee) terminate this License Agreement and the license granted hereunder, without prejudice to the royalties/fees due to the ASSIGNOR (Licensor) hereunder.
5. Derivative Designs. “Derivatives:" means any and all additions, alterations, modifications, design changes, and other improvements to the Unit or Units which are individually or jointly developed by ASSIGNOR (Licensor) or ASSIGNEE (Licensee) or any of its subsidiaries during or after the Term of this Agreement. ASSIGNEE (Licensee) hereby agrees to assign and hereby does assign all Derivatives to ASSIGNOR (Licensor), and agrees to execute any documents required to perfect the transfer of said assignment from ASSIGNEE (Licensee) to ASSIGNOR (Licensor.)
6. Notice. Any notice to be given pursuant to the terms of this License Agreement shall be addressed as follows:
If to Licensee:
[INFORMATION ON ASSIGNEE (Licensee)]
Attention: __________________________
If to ASSIGNOR (Licensor):
FURIO INTELLECTUAL PROPERTY, LLC
180 S. Western Ave., Suite 310
Carpentersville, Il 60110
Attention: Sante Furio, President
7. Choice of Law. Any and all matters of dispute between the parties to this Agreement, whether arising from the Agreement itself or arising from alleged extra-contractual facts prior to, during or subsequent to the Agreement, including, without limitation, fraud, misrepresentation, negligence or any other alleged tort or violation of the Agreement, shall be governed by, construed, and enforced in accordance with the laws of the State of Illinois, not including its choice of laws rules, but including its statutes of limitations, regardless of the legal theory upon which such matter is asserted. The parties hereby agree that the United Nations Convention on Contracts for the International Sale of Goods will not apply to this Agreement.
8. Fully Integrated Agreement; Negation of Trade Usage and Course of Dealing. The parties intend this statement of their Agreement to constitute the complete, exclusive and fully integrated statement of their agreement. As such, it is the sole repository of their agreement and they are not bound by any other agreements of whatsoever kind or nature. The parties also intend that this complete, exclusive and fully integrated statement of their agreement may not be supplemented or explained (interpreted) by any evidence of trade usage or course of dealing.
9. Other Rights. Nothing contained in this Agreement shall be construed as conferring by implication, estoppel, or otherwise upon either party any license or other right except the licenses and rights expressly granted hereunder to that party.
10. Acceptance. Each party hereby accepts the licenses and rights granted to it by a party under this Agreement subject to all of the terms and conditions of this Agreement.
11. Venue; Submission to Jurisdiction. Each of the Parties submits to the exclusive jurisdiction of any state or federal court sitting in DuPage County, Illinois for any action or proceeding arising out of or relating to this Agreement. The Parties agree that all claims in respect of the action or proceeding may be heard and determined in any such court, and the Parties agree not to bring any action or proceeding arising out of or relating to this Agreement in any other court. Each of the Parties hereby waives any defense of inconvenient forum to the maintenance of any action or proceeding so brought.
12. Attorney's Fees. If either Party hereto commences any action against the other Party to enforce any of the terms hereof or due to the breach by such other Party of any of the terms hereof, the Licensor shall be entitled, in addition to any other relief granted, to all actual out-of-pocket costs and expenses incurred by Licensor in connection with such action, including without limitation all reasonable attorneys' fees. A right to such costs and expenses shall be deemed to have accrued upon the commencement of such action and shall be enforceable whether or not such action is prosecuted to judgment.
13. Authority; Entire Agreement; No Waiver. Each Party represents and warrants that it has authorized the persons signing below to execute this Agreement and legally bind that Party. Each Party recognizes that this Agreement and any exhibits or attachments hereto is the entire agreement on the subject matter herein and supersedes any prior agreements, oral or written, between the Parties regarding this subject matter. This Agreement may only be modified or amended through a writing signed by both Parties. No failure or delay by either Party to assert any right or remedy arising from the other Party's breach of this Agreement shall be construed as a waiver or a continuing waiver of such rights or remedies. All waivers must be in writing and specify the rights or remedies waived.
14. No Third-Party Beneficiaries. This Agreement is for the sole benefit of the parties who enter into it and does not create any rights on the part of any third party.
15. Headings and Construction. The captions contained in this Agreement are for convenience of reference only and are not to be considered in construing this Agreement. The language of this Agreement shall be construed as to its fair meaning and not strictly for or against any party.
In witness whereof, the parties have executed this Patent License Agreement.
ASSIGNOR (Licensor):
FURIO INTELLECTUAL PROPERTY, LLC
By: _________________________________
Sante Furio, Patent Developer & Manager
ASSIGNEE (Licensee):
[NAME]
By: __________________________________
Name and Title
THIS LICENSE AGREEMENT made this __ day of _________, 2024 (the “Effective Date”), between FURIO INTELLECTUAL PROPERTY, LLC (the “ASSIGNOR (Licensor)”) an Illinois Limited Liability Company having principal offices in Carpentersville, Illinois, and ________________________________________________________________________________________ (the “Licensee”),
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 Licensor.
Whereas the ASSIGNEE (Licensee) desires to manufacture and sell corrugated cardboard box carriers (“Units”) as covered by such letters patent in the United States defined herein.
It is therefore agreed:
1. [Non-Exclusive/Exclusive] License. The ASSIGNOR (Licensor) hereby grants to the ASSIGNEE (Licensee) the [non-exclusive/exclusive] right and license during the Term hereof, in the geographic region defined herein in the United States of America and its territories, to manufacture, use, and sell "Units" containing the improvements covered by letters patent of the United States Numbers 10,233,001 and 11,046,493, issued to and owned by the Licensor. This License is non-transferable and sub-licensable.
2. Geographic Region. This Licensor hereby grants to the ASSIGNEE (Licensee) the above-defined license in the following geographic region of the United States.
3. Lease Fees and Royalties.
a. Initial Fee. Within five (5) business days of execution of this Agreement, ASSIGNEE (Licensee) shall pay to ASSIGNOR (Licensor) an Initial/Intent Fee of $9,xxx.00.
b. Royalties/Fee. U.S.A. National Exclusive Lease Agreement (All U.S. States and District of Columbia) (one year minimum agreement) ASSIGNEE (Licensee) shall pay a royalty/fee to ASSIGNOR (Licensor) for a U.S.A. National Exclusive Agreement in the amount of $18,xxx.00 per calendar quarter (3 months) for the minimum term of one (1) year or number of years determined by this Agreement, paid by ASSIGNEE (Licensee) to ASSIGNOR (Licensor) at the beginning of each calendar quarter. In the event that the first or last quarter of this Agreement is a partial quarter, the quarter shall be prorated.
c. Royalties/Fee. U.S.A. National Non-Exclusive Lease Agreement (All U.S. States and District of Columbia) (one year minimum agreement) ASSIGNEE (Licensee) shall pay a royalty/fee to ASSIGNOR (Licensor) for a U.S.A. National Exclusive Agreement in the amount of $13,xxx.00 per calendar quarter (3 months) for the minimum term of one (1) year or number of years determined by this Agreement, paid by ASSIGNEE (Licensee) to ASSIGNOR (Licensor) at the beginning of each calendar quarter. In the event that the first or last quarter of this Agreement is a partial quarter, the quarter shall be prorated.
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 lease the U.S. Patents Nos. 10,233,001, and 11,046,493. The “Initial/Intent” Fee is solely to show the ASSIGNEES “good faith” to intent to enter into the lease agreement. 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 $9,xxx.00. This Initial/Intent fee money is to serve as entering into a “good faith” intent to complete the lease agreement. 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 leasing 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 $9,xxx.00 within five (5) business days of mutual acceptance of the Agreement after the "Effective Date". If the lease agreement 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 $9,xxx.00 shall be paid to ASSIGNOR and applied as a credit against the Lease Agreement Price 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 "Initial/Intent" Fee/Deposit
ASSIGNEE shall pay a "Inital/Intent" fee deposit/money to ASSIGNOR in the amount of $9,xxx.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.
4. Term. The term of this License Agreement shall be from the effective date for a minimum period of 1 calendar year or ____ years, subject to the following:
a. ASSIGNOR (Licensee’s) default. The ASSIGNOR (Licensor ) may terminate this Agreement by giving notice thereof to the ASSIGNEE (Licensee) if:
i. The ASSIGNEE (Licensee) makes a general assignment of all or substantially all of its assets for the benefit of creditors; or,
ii. A petition in bankruptcy or under any insolvency law is filed by or against the ASSIGNEE (Licensee) and such petition is not dismissed within sixty (60) days after it has been filed; or,
iii. The ASSIGNEE (Licensee) commits a breach of a material obligation hereunder; provided, however, except for a breach which is a failure to timely make a payment hereunder (in which case the ASSIGNEE (Licensee) shall have 10 days to cure such breach). In the event a breach by the Licensee is capable of being cured, the ASSIGNOR (Licensor ) may not terminate this Agreement unless and until the ASSIGNEE (Licensee) shall have failed to correct such breach within thirty (30) days after it has been served with a notice from the Licensor specifying the breach, requiring its correction, and stating the Licensor’s intention to terminate this Agreement if the breach is not corrected within such thirty (30) day period.
b. Abandonment. If the ASSIGNEE (Licensee) shall abandon the exploitation of the patented improvements by failing for a period of one calendar quarter to manufacture at least 26,000 Units, the ASSIGNOR (Licensor) may on 30 days’ written notice to the ASSIGNEE (Licensee) terminate this License Agreement and the license granted hereunder, without prejudice to the royalties/fees due to the ASSIGNOR (Licensor) hereunder.
5. Derivative Designs. “Derivatives:" means any and all additions, alterations, modifications, design changes, and other improvements to the Unit or Units which are individually or jointly developed by ASSIGNOR (Licensor) or ASSIGNEE (Licensee) or any of its subsidiaries during or after the Term of this Agreement. ASSIGNEE (Licensee) hereby agrees to assign and hereby does assign all Derivatives to ASSIGNOR (Licensor), and agrees to execute any documents required to perfect the transfer of said assignment from ASSIGNEE (Licensee) to ASSIGNOR (Licensor.)
6. Notice. Any notice to be given pursuant to the terms of this License Agreement shall be addressed as follows:
If to Licensee:
[INFORMATION ON ASSIGNEE (Licensee)]
Attention: __________________________
If to ASSIGNOR (Licensor):
FURIO INTELLECTUAL PROPERTY, LLC
180 S. Western Ave., Suite 310
Carpentersville, Il 60110
Attention: Sante Furio, President
7. Choice of Law. Any and all matters of dispute between the parties to this Agreement, whether arising from the Agreement itself or arising from alleged extra-contractual facts prior to, during or subsequent to the Agreement, including, without limitation, fraud, misrepresentation, negligence or any other alleged tort or violation of the Agreement, shall be governed by, construed, and enforced in accordance with the laws of the State of Illinois, not including its choice of laws rules, but including its statutes of limitations, regardless of the legal theory upon which such matter is asserted. The parties hereby agree that the United Nations Convention on Contracts for the International Sale of Goods will not apply to this Agreement.
8. Fully Integrated Agreement; Negation of Trade Usage and Course of Dealing. The parties intend this statement of their Agreement to constitute the complete, exclusive and fully integrated statement of their agreement. As such, it is the sole repository of their agreement and they are not bound by any other agreements of whatsoever kind or nature. The parties also intend that this complete, exclusive and fully integrated statement of their agreement may not be supplemented or explained (interpreted) by any evidence of trade usage or course of dealing.
9. Other Rights. Nothing contained in this Agreement shall be construed as conferring by implication, estoppel, or otherwise upon either party any license or other right except the licenses and rights expressly granted hereunder to that party.
10. Acceptance. Each party hereby accepts the licenses and rights granted to it by a party under this Agreement subject to all of the terms and conditions of this Agreement.
11. Venue; Submission to Jurisdiction. Each of the Parties submits to the exclusive jurisdiction of any state or federal court sitting in DuPage County, Illinois for any action or proceeding arising out of or relating to this Agreement. The Parties agree that all claims in respect of the action or proceeding may be heard and determined in any such court, and the Parties agree not to bring any action or proceeding arising out of or relating to this Agreement in any other court. Each of the Parties hereby waives any defense of inconvenient forum to the maintenance of any action or proceeding so brought.
12. Attorney's Fees. If either Party hereto commences any action against the other Party to enforce any of the terms hereof or due to the breach by such other Party of any of the terms hereof, the Licensor shall be entitled, in addition to any other relief granted, to all actual out-of-pocket costs and expenses incurred by Licensor in connection with such action, including without limitation all reasonable attorneys' fees. A right to such costs and expenses shall be deemed to have accrued upon the commencement of such action and shall be enforceable whether or not such action is prosecuted to judgment.
13. Authority; Entire Agreement; No Waiver. Each Party represents and warrants that it has authorized the persons signing below to execute this Agreement and legally bind that Party. Each Party recognizes that this Agreement and any exhibits or attachments hereto is the entire agreement on the subject matter herein and supersedes any prior agreements, oral or written, between the Parties regarding this subject matter. This Agreement may only be modified or amended through a writing signed by both Parties. No failure or delay by either Party to assert any right or remedy arising from the other Party's breach of this Agreement shall be construed as a waiver or a continuing waiver of such rights or remedies. All waivers must be in writing and specify the rights or remedies waived.
14. No Third-Party Beneficiaries. This Agreement is for the sole benefit of the parties who enter into it and does not create any rights on the part of any third party.
15. Headings and Construction. The captions contained in this Agreement are for convenience of reference only and are not to be considered in construing this Agreement. The language of this Agreement shall be construed as to its fair meaning and not strictly for or against any party.
In witness whereof, the parties have executed this Patent License Agreement.
ASSIGNOR (Licensor):
FURIO INTELLECTUAL PROPERTY, LLC
By: _________________________________
Sante Furio, Patent Developer & Manager
ASSIGNEE (Licensee):
[NAME]
By: __________________________________
Name and Title