a. licensor has purchased and developed technology and know - how related to certain flow meters, totalizers, hand - held and fixed flare stack igniters, and other market applications and is the sole legal and beneficial owner of such technologies and of certain intellectual property rights therein. b. licensor is the sole legal and beneficial owner of certain molds used in the plastic injection of parts and the licensee wishes to use such molds. c. licensee wishes to license such technology and know - how in order to manufacture, market and distribute certain products. and licensor wishes to grant such license to licensee. d. the parties wish to formally set forth the terms and conditions of this agreement. 1. definitions ~ in this agreement : ( a ) “ confidential information ” means any and all information provided by either party to the other in connection with this agreement. including but not limited to the technology, this agreement. and all techniques. trade secrets. sketches. drawings. works of authorship. models. inventions. knowhow -. processes. apparatuses. equipment. ideas. formulae. algorithms. concepts. software products. software are source documents. and test results related to the current, future and proposed products of each party. and including, without limitation, their respective information concerning research. experimental work. development, design details and specifications. engineering, unpublished financial information. procurement requirements. purchasing. manufacturing, customer lists. investors, employees, business and contractual relationships, business forecasts. sales and merchandising. marketing plans and information the disclosing party provides regarding third parties. ( b ) “ license ” means the license granted hereunder by licensor to licensee to use the technology under the terms and conditions of this agreement. ( c ) “ parties ” means licensor and licensee collectively, and “ party ” means each individually. ( d ) “ person ” means an individual, a corporation. a society, a partnership. a government or any government department or agency. a trustee, any unincorporated organization and includes the heirs and legal representatives of an individual. ( e ) “ product ” or “ products ” means those products of the licensor current at the relevant time. ( f ) “ technology ” means any and all present and future patents, know - how. data and information of any kind relating to certain flow meters. totalizers, hand - held and fixed flare stack igniters. and other