Global Innovative Platforms obtains exclusive animal-testing patent license from Defiant Technologies

Global Innovative Platforms Inc.

License covers exclusive global rights to patents and know-how for animal testing and related commercial applications.
Initial payment: $50,000 due within 30 days, or $225,000 lump sum within 45 days at Defiant's discretion.
Ongoing royalty of 3% of net sales on all Licensed Products; minimum $50,000 monthly for first 5 months.
License is non-transferable, non-sublicensable, exclusive for patents and materials, non-exclusive for know-how.
Agreement includes a 90-day notice period before licensee may challenge patents; royalty rises to 10% if challenge fails.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Global Innovative Platforms Inc. entered into Patent and Know-How License Agreement with Defiant Technologies Inc. (effective 2023-08-18).

Action: entry
Agreement: license
Counterparty: Defiant Technologies Inc.
Effective: 2023-08-18

Exact text from the filing

On August 18, 2023, Global Innovative Platforms Inc. (the “Company”) entered into a Patent and Know-How License Agreement (the “License Agreement”) with Defiant Technologies Inc. (“Defiant”).

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Global Innovative Platforms Inc. filing history →

Source: SEC EDGAR

accession 0001731122-23-001589

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