Technology Transfer Agreement India

Before designing the confidentiality clause, it is important to identify confidential information. Those provisions should expressly provide for the standard of liability that the licensee should respect in the treatment of confidential data, including the protection of physical files containing confidential information, entering into a confidentiality agreement with employees or traders, suppliers, etc. of allies. The TOT Agreement should also contain a list of the persons to whom such confidential information may be disclosed and the security procedures to be followed in order to preserve secrecy, in accordance with industry standards. In the event of a breach of confidentiality by a party, indemnification clauses are used. Technology transfer has become one of the main factors fuelling a country`s economic growth, particularly in developing countries. In recent years, the Government of India has also exponentially highlighted technology transfer and, in its recent opening speech at the 25th meeting of the Standing Committee on the Law of Patents, expressed great importance on the issue of technology transfer. The Department of Industrial Policy and Promotion (DIPP) has also established a committee to identify areas where industrialized countries can be invited to share technology with India on the basis of bilateral trade agreements, not only for economic growth, but also for clean energy and climate change. Future areas of technology transfer are food processing, energy, environment, etc. However, many technologically developed countries and organizations have expressed interest in technology exchanges with India, but their main concern remains the domestic business environment. Foreign officials acknowledged the changing transparent, predictable and open business environment in India, with minimal administrative burden, citing that intellectual property protection is key to attracting cross-border monetary and technological investment. In such a contemporary scenario, it is of the utmost importance to understand the aspects that an organization should respect when entering into a technology transfer agreement.

Many financial aspects and a number of legal issues, including intellectual property, are related to technology transfer or technology commercialization. It is not practical to generalize contractual terms to such a subject, since most of the details of contracts depend on the facts and circumstances of the technology transfer in question. .