SKYX Platforms, GE sign five-year renewal of global licensing MSA

SKYX Platforms announced that it has signed with GE Technology Development a five-year renewal of a global licensing master service agreement to license certain SKYX advanced and smart technologies in the U.S. and worldwide. Pursuant to the SKYX GE agreement, GE’s licensing team will provide licensing services, including seeking and arranging for licensee partners in the U.S. and globally, negotiating agreement terms, administering contracts, auditing partners, assisting with monetization, and patent protection strategy, while providing mutually agreed support to defend the Company’s intellectual property. The term of the SKYX GE agreement runs through for an initial five-year term and includes automatic one-year renewal provisions. SKYX will receive the main portion of earned revenue and GE will receive a percentage of the earned revenue under license agreements established in connection with a program commercialized by GE’s licensing team.