- Black Belt
- Posts: 1208
- Joined: Mon Oct 30, 2006 2:53 pm
- Location: USA
A exclusive contract means that once an agreement is signed they are the only ones able to license your invention for market. There is normally a clause in the contract in which it states that either party can cancel the contract if certain terms are not met.
A nonexclusive means you are giving the company the right to license and sell your product, but you are still free to look for other companies to license and sell your product.