1. Technology transfer. Seller agrees to transfer the purchased technology to Buyer in accordance with the terms of this Agreement and Buyer agrees to purchase the purchased technology from Seller. The technology transfer clause of a technology transfer contract confirms the agreement of the parties to the transfer of the purchased technology. Since the detailed description of the purchased technology is included in a schedule, arrangements can be quite flexible. Note, however, that this agreement applies to a full sale of the technology. On the other hand, if the parties intend to conclude a licence, they should conclude a licence agreement with very different conditions. For example, in a license agreement, the party that owns the technology retains ownership for the duration of the contract, while the owner sells it to the buyer under that agreement and has no additional interest in doing so. Alternatives are proposed for different types of technology transfer agreements. 1.2. Transfer and Attribution. The transferor hereby sells and delivers to the purchaser all of its shares in the acquired technology, with effect from the balance date.
1.1. Purchase and sale of technology. The purchaser thus acquires from the transferor and the transferor the acquired technology against the agreed consideration and validly from the closing date. . . .