Common use of Assignment of Work Product Clause in Contracts

Assignment of Work Product. Executive hereby agrees and confirms that all right, title and interest, including all Intellectual Property Rights (defined below), in and to the existing Work Product has been irrevocably (subject to the provisions of 17 U.S.C. §203, if applicable) assigned at the time of creation, and/or is hereby irrevocably (subject to the provisions of 17 U.S.C. §203, if applicable) assigned to the Company, and Executive hereby agrees that all right, title and interest in future Work Product is and will be automatically and irrevocably (subject to the provisions of 17 U.S.C. §203, if applicable) assigned to the Company. Executive has not assigned or otherwise granted any right in or to the Work Product to any third party and all Work Product is and shall be the exclusive property of the Company. The Parties intended and intend that any and all copyright and other Intellectual Property Rights in the Work Product, including without limitation any and all rights to distribute and reproduce such Work Product in any and all media throughout the world, are the sole property of the Company.