As used in this act: 1. 'Commercial stage' means the point at which the product has advanced beyond the theoretical and prototype stage and is capable of being manufactured or reduced to practice commercially;2. 'Intellectual property' means a patent, patent pending, trademark, copyright or trade secret;3. 'Licensor' means the person who owns the intellectual property rights of a product;4. 'Licensee' means the person to whom the intellectual properties related to a product have been licensed or assigned;5. 'Person' means any individual, sole proprietor, partnership or corporation;6. 'Product' means any device, technique or process;7. 'Royalties' means all things of value received by a licensor in connection with the licensing, rental or sale of a product patented, patent pending, copyrighted or trademarked pursuant to federal law; and8. 'Strategic alliances' means a business agreement such as licensing, joint venture partnership, etc., between two or more persons.Added by Laws 1992, c. 246, § 3, emerg. eff. May 21, 1992.
Oklahoma Legal Code