In one sweeping agreement, Dow AgroSciences and Monsanto established cross licensed property and product licenses of corn, soybean and cotton traits and dropped pending patent suits.
Specifically under this agreement Dow and Monsanto cross licensed intellectual property and product licenses in corn and soybeans on a non-exclusive basis. Dow received a commercial license to certain Monsanto seed stock and biotechnology traits for both corn and soybeans.
In addition, Dow receives royalty-bearing rights to create and license finished hybrids, which combine Monsanto's Roundup Ready Corn 2 technology with Dow's Herculex I and Herculex XTRA technologies, to licensees of Monsanto's Roundup Ready Corn 2.
Dow and Monsanto also established cross licenses of cotton technologies on a non-exclusive basis. Dow's license includes Monsanto's patent estate for cotton transformation. Monsanto's license includes the patent estate for glyphosate tolerant cotton of Mycogen Plant Sciences, Inc., an affiliate of Dow AgroSciences.
Dow receives the intellectual property licenses for the commercialization of its WideStrike insect protection technology. Monsanto receives the intellectual property licenses related to its Bollgard, Bollgard II, Roundup Ready and Roundup Ready Flex technologies. Monsanto also receives a commercial license for WideStrike technology in South America and Mexico.
Dow and Monsanto also established non-exclusive cross licenses of certain enabling technologies. Dow's license includes Monsanto's patent estate for synthetic Bt technology. Monsanto's license includes the patent estate for Bt in plants owned by Mycogen.
The companies agreed to settle outstanding legal disputes. Mycogen has agreed to withdraw its appeal related to the U.S. Patent and Trademark Office's determination that Monsanto scientists were the first to invent synthetic Bt genes. Monsanto agreed to withdraw its appeal that Mycogen scientists were first to invent the Cry1F gene.