L:It’s really nice to meet you,Mr.Smith.I appreciate your visit to China.How is your trip?

S:The trip is good.I have always wanted to come to China.Thank you for your kind invitation.

L:It’s our pleasure to work with one of the world distinguished technology companies like yours.Now I will be open and frank.

S:That’s exactly the way we work too.

L:You know that our factory has been considering improving our present production lines and develop new products for a long time.After attending the World Exhibition of Automobile Parts and Accessories,we have great interest in your products.

S:I can see you are well prepared for this.But before we come to the core technological issue,first of all,I’d like you to give me a brief introduction of your products.

L:Oh,yes.The products of our factory mainly include different kinds of machines to produce automobile parts and accessories.We have been supplying parts and accessories for many automobile plants in China in the last ten years.Now we want to update our outmoded bolt- and screw-making machines.What we need urgently are the cutting-edge technical blueprints from you.

S:We’re glad to cooperate with you in this area.Our technology is of world-advanced levels for both design and production.We can offer you our state-of-the-art computerized precision machines.

L:I am sorry,but what we have in mind is to discuss a technology transfer with you.We would like to buy the technical blueprints through licensing agreement.

S:Well,we welcome all the possibilities of cooperation.What specific technologies are you interested in?

L:As mentioned earlier,we are interested in your computerized precision machine technology to produce different kinds of bolts.

S:I can see you have done your homework.That is the best part of our technology.

L:Under the standard licensing agreement,what rights will the license grant to the factory?

S:It will grant rights of using our blueprints to produce new machines.In addition,we will train your engineers.However,I would like to remind you the license to be granted is nonexclusive and nontransferable.

L:That’s fair.Is the patent included in the license?

S:Yes.The patent is valid for 10 years from now.

L:It’s a fruitful morning.Before we get on to the details of transfer,let’s have a break.Please help yourself with the refreshments.

S:OK,thank you.