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During the term hereof, Licensee * * * [U.S. Agri]
shall have the exclusive right to utilize the
technology developed for the account of the Licensor *
* * [Utah I], and said technology shall be applied to
the benefit of the parties on the Jojoba plantation * *
* upon which the research and development has been
conducted for the purpose of developing said
technology.
Section B, paragraph 2 of the license agreement provides that
"The license granted hereby shall be exclusive." Utah I
relinquished all of its rights to the plantation, retaining only
its nominal ownership of the technology, subject to the license,
in section B, paragraph 4 of the license agreement:
Licensor * * * [Utah I] specifically disclaims any
right, title, or interest in or to the Jojoba
plantation on which the said technology will be
developed and its sole asset is and shall be the
technology for which the * * * royalty shall be paid.
Section B, paragraph 5 of the license agreement granted U.S. Agri
the exclusive license for a period of 40 years.
According to the terms of the license agreement, Utah I
granted U.S. Agri the exclusive right to utilize the technology
developed for Utah I for 40 years in return for payments from
U.S. Agri of royalties of "eighty-five percent (85%) of all
products produced on the Plantation and intended to be sold or
moved from the Plantation by Licensee * * * [U.S. Agri]."
Section B, paragraph 6 of the licensing agreement also states
"that this Agreement in no way constitutes a partnership or a
joint venture between Licensor * * * [Utah I] and Licensee * * *
[U.S. Agri]."
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