DuPont and its subsidiary, Pioneer Hi-Bred International Inc., and Monsanto Company and its affiliates have announced they came to a “broad-reaching business agreement that will ensure farmers worldwide have greater access to the new agricultural technologies they want, in the seed brands they prefer to plant,” according to a joint company news release.
“The agreement gives both companies cross-licenses to enabling technologies that enhance the performance of corn, canola, and soybean crops, and improve the farmer's productivity and efficiency. The companies have reached an agreement that creates new and growing sources of business for both companies.”
Pioneer receives royalty-bearing license to Monsanto's newest Roundup Ready corn and soybean technologies. Pioneer's existing royalty-bearing license to Roundup Ready canola technology is renewed. Pioneer's existing royalty-bearing license to Roundup Ready canola technology is renewed.
Pioneer receives freedom to operate from Monsanto and its affiliates for its second-generation insect-protected corn products and future corn rootworm-protected corn products through a royalty-bearing license. Monsanto receives freedom to operate for certain corn transformation technology.
Pioneer's existing license for use of Monsanto's MON810 YieldGard Corn Borer product is modified to expand geographic coverage and include more favorable terms.
Monsanto and DuPont resolved all issues related to certain previously contested germplasm. Both Monsanto and DuPont agree to dismiss all pending lawsuits, fully resolving a number of important business and patent disputes between them. Monsanto and DuPont have entered a plant Breeding Accord affirming the intellectual property and other rights that protect proprietary germplasm.