Found In: Patent License Agreement | Updated: 09/06/2016

The Records clause in a Patent License Agreement obligates the licensee and sublicensees to keep records of manufacture or sale of licensed products.

Clause Language

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Neutral Standard

1. Records. The Licensee shall keep, and shall require its Affiliates and Sublicensees to keep, accurate and correct records of all Licensed Products manufactured, used, and sold, and sublicense fees received under this agreement. The Licensee shal retain these records for at least [RECORD PERIOD] following a given reporting period.

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