Technology transfer agreements are legal contracts that facilitate the sharing of technology between parties, such as companies, universities, or research institutions. These agreements outline the terms under which one party can use, develop, or commercialize technology owned by another party, ensuring that both sides benefit from the arrangement. Typically, these agreements cover aspects like licensing fees, intellectual property rights, and confidentiality. They are essential for promoting innovation and collaboration, allowing organizations to leverage each other's expertise and resources to bring new products or services to market more efficiently.