Avani has set up offices in Malaysia and has signed an agreement to transfer the company’s technology and establish a factory with a Malaysian business group. Under the terms of the agreement, AVIG will license its technology to the Malaysian company for a period of 30 years, with automatic renewal for another 30 years. In return, the Malaysian company will pay AVIG a 2% royalty on gross revenues, and a licensing fee of US$500,000 per production facility, as well as 20% of the licensee’s net profit.
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