Common use of Acknowledgement of Ownership Clause in Contracts

Acknowledgement of Ownership. Seller acknowledges Xxxxx’s ownership of all right, title, and interest67 in and to the Licensed Intellectual Property worldwide. Seller shall not acquire and shall not claim any rights in or title to the Licensed Intellectual Property adverse to Buyer by virtue of this License Agreement. If at any xxxx Xxxxxx acquires any rights in, Intellectual Property applications or registrations for, or domain names incorporating any of, the Licensed Intellectual Property, upon Buyer’s request and at no expense to Buyer, Seller shall assign all of Seller’s acquired rights, applications, registrations, or domain names to Buyer. Seller’s use of the Licensed Intellectual Property inures to the benefit of Buyer. Seller is estopped from challenging the validity of the Licensed Intellectual Property or asserting any claim to the Licensed Intellectual Property adverse to Buyer.