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Technology transfer is the single most important aspect of executing a license agreement. Once the contract has become effective, the process begins. Listed below are the various aspects of technology transfer that must be considered. Not all will apply to every agreement, but must be considered, even before entering into a license or license business. Technology and know-how are what a licensor sells and what a licensee pays for, therefore must be done well. How well this is done will determine the future relationships between the parties and how the licensor is perceived in the market place. A licensors reputation rests on his ability to effectively transfer a complete set of technology documents and deliver training in an understandable format and delivered in a timely, effective manner.