Know About Agreement

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II. The second tranche, of one third, is paid for the provision of know-how. 10. The Indian company cannot provide a sub-licence or authorization for the manufacture of its machinery/product with the help of this know-how, except with the written agreement of the foreign company and what consent may be given to the terms, as can be agreed. 15. At the request of the Indian company, it may send one or more representatives to the foreign company`s factory to familiarize itself with the implementation of the know-how and the manufacturing process of the aforementioned machinery/products and, in this case, the foreign company will provide them with all the facilities and assistance necessary to achieve this purpose. The foreign company will make all necessary arrangements for the stay of these representatives or representatives of the Indian company. All travel expenses to and from India and the stay of the representative or representative of the Indian company at the location of the Foreign Company plant are covered and paid for by the Indian company. What is provided under the headings «know-how» and «technical assistance» is an issue that must be decided and agreed upon between the parties.

As such, they remain largely undefined in the text of the treaty and can be fully defined in timetables. It is important to note that the know-how calendar can include either a complete set of copies of all technical information or, if you prefer (for example. B for privacy reasons), a simple description of the structure indicating what information is provided. It is a matter of agreement between the two parties, but everything chosen has no other significant impact on the agreement. People enter into legally binding contracts every day. Simply put, a contract is an agreement between two parties that can be enforced by a court. It may be helpful to understand the specific requirements of a contract to know when you are entering into a contract. In a fair contract, the terms are negotiated fairly, duly developed and verified by the parties involved to ensure that the contract accurately communicates the intentions of the parties. Some legal contracts are offered in writing, which facilitates the conclusion of a contract.

However, some contracts are oral and you may be legally responsible for respecting the end of your contract, even if you have not signed anything on paper. 1. The foreign company makes available to the Indian company all the knowledge or know-how regarding the manufacture of these machines/products that are written in the list within a period of……. days from the date. On the other hand, the know-how agreement represents a wider range of knowledge that actually enters secret areas (for example). B, technologies that relate to patented objects, either because they do not meet the relevant conditions or because the patent holder understands that they should not be patentable, among other things).

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