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Technology License Option Agreement
Free technology license option agreement template — gives a party a time-limited right to negotiate a license for specific technology or IP.
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This free technology license option agreement covers 1. Grant of Option, 2. Option Fee, 3. Due Diligence Period, 4. Exercising the Option, 5. Exclusivity During Option Period with 8 clearly marked [placeholder] fields to fill in — built for founders, freelancers, and small business owners formalizing a business decision or agreement without paying a lawyer to draft it from scratch. Copy it into your own word processor, fill in the placeholders, and review it — or adapt it — before use. It's part of docstoc's free document template library, alongside business, legal, real estate, finance, and HR templates. Every template here is free to copy with no signup required, and each one carries a plain disclaimer: this is a starting point for informational purposes, not a substitute for advice from a licensed professional in your jurisdiction.
Technology License Option Agreement
Licensor: [Name/Institution] · Optionee: [Company Name] · Technology: [Description/patent reference] · Date: [Date]
1. Grant of Option
Licensor grants Optionee an exclusive option to negotiate a license to the technology described above, for a period of [Duration].
2. Option Fee
Optionee pays Licensor an option fee of [Amount], [creditable/non-creditable] toward future license fees if the option is exercised.
3. Due Diligence Period
During the option period, Optionee may evaluate the technology, and Licensor will provide reasonable access to relevant information for this purpose.
4. Exercising the Option
Optionee may exercise the option by notifying Licensor in writing before expiration, after which the parties will negotiate in good faith toward a definitive license agreement within [Timeframe].
5. Exclusivity During Option Period
During the option period, Licensor will not negotiate a license for this technology with any other party.
6. Confidentiality
Any confidential information shared during the evaluation period will be kept confidential by Optionee.
7. If the Option Expires Unexercised
If Optionee does not exercise the option, Licensor is free to license the technology to others, and the option fee (unless otherwise agreed) is non-refundable.
Licensor: ______________________ Date: ____________ Optionee: ______________________ Date: ____________
*This document is provided for informational and educational purposes only and does not constitute legal advice. Option agreements are common in university technology transfer — they let a company evaluate whether a licensed technology is commercially viable before committing to the larger license fees and diligence obligations of a full license.*
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What's included
- Edit online — click the document, fill in placeholders, download a PDF
- 7 standard sections: 1. Grant of Option, 2. Option Fee, 3. Due Diligence Period, 4. Exercising the Option, 5. Exclusivity During Option Period, 6. Confidentiality, …
- 8 clearly marked [placeholder] fields for quick personalizing
- Free to use — no account or signup required
- Fully editable — adjust any clause to match your actual situation
- Includes a signature block, ready to print or sign digitally
- Fixed docstoc.io footer on every PDF (not removable)
Who this template is for
Freelancers & solo founders
Handling routine business paperwork without commissioning custom legal drafting for every document.
Small businesses
Standardizing recurring documents — leases, agreements, notices — across a growing operation.
Anyone reviewing before signing
Using a clear starting structure to understand what a document should cover, even if a lawyer finalizes it.
Early-stage businesses
Getting the basics documented before things get more complex.
FAQ
Is this technology license option agreement template really free?
Yes, completely free — view, edit, and download this technology license option agreement as a PDF without creating an account.
What does this technology license option agreement cover?
This business template includes 1. Grant of Option, 2. Option Fee, 3. Due Diligence Period, 4. Exercising the Option. Fill in the [bracketed] placeholders, edit any clause online, then download a PDF — the docstoc.io footer stays on every export.
Is this legal advice?
No. This is a general-purpose starting structure, not advice for your specific situation. Business agreements can hinge on details — state of formation, industry-specific regulation, how a dispute would actually play out — that a template can't account for. Have a business attorney review anything that involves real money or real risk before you rely on it.
Can I edit the wording?
Yes — edit directly on the page, adjust any section or clause, and re-fill the 8 placeholder fields to match your situation before downloading a PDF. It's a starting structure, not a rigid script.
Where can I find more free templates like this?
Browse more free business and related document templates in the docstoc library at /document-templates/.
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