Practical Pointers for Patentees

by Franklin Allison Cresee

III. The party of the second part agrees to pay the party of the first part five dollars as a[p. 104] license fee upon every one of the said patented Coin-Controlled Machines manufactured by them, the whole of said license fee for each term of six months to be due and payable on the days hereinabove provided for semi-annual returns; provided, that if said fee be paid upon the days herein provided, or within fifteen days thereafter, a discount of fifty per cent, shall be made from said fee for prompt payment.

IV. The party of the second part agrees to pay the party of the first part at least two thousand dollars, less discount, as said license fee upon each of the semi-annual terms, even though they should not make enough of said patented machines to amount to that sum at the regular royalty of five dollars each.

V. The party of the second part shall cast, or otherwise permanently place, upon every such machine made under this license the word "Doe," and in close relation thereto the word "Patented," and the number and date of said patent.

VI. The party of the second part shall not, during the life of this license, make or sell any article which can compete in the market with said Coin-Controlled Machines.

VII. Upon the failure of the party of the second part to keep each and all of the conditions of this license and agreement, the party of the first part may, at his option, terminate this[p. 105] license, and such termination shall not release said party of the second part from any liability due at such time to the party of the first part.

In witness whereof, the above-named parties (the said Roe Vending Machine Company, by its president) have hereto set their hands the day and year first above written,

Richard Doe,

Roe Vending Machine Company,

By John Roe, President.

No general legal forms should be relied upon too implicitly as suiting particular cases, and an inventor, in order to fully protect his interests, should consult a reliable patent attorney, and have the forms properly prepared to suit his individual case.