Competitive Technology Sample Clauses
The Competitive Technology clause defines how technology that competes with a party’s own products or services is handled within the agreement. Typically, this clause restricts one party from using, developing, or licensing technology that directly competes with the other party’s offerings, or it may require disclosure if such technology is involved. Its core function is to protect a party’s competitive advantage and prevent conflicts of interest or misuse of proprietary information, thereby reducing the risk of unfair competition.
Competitive Technology. Supplier and Purchaser agree that it is of primary importance to Purchaser and Supplier to remain competitive in their respective industries. Therefore, Suppler agrees that it will at its cost maintain best in class technology in the performance of its duties described herein. ***
Competitive Technology. If another supplier offers to sell to Buyer products as a substitute for NewTextron AgreementFinalDocChrisRev Products, and in Buyer's judgment in its sole discretion such substitute products provide significant technological improvements from the current state- of-the-art technology as of the date of this Agreement; Buyer agrees to provide to Seller written notice of the availability of such advanced technology (without identifying the other supplier) provided Buyer is authorized to release such information. Seller shall have one hundred eighty (90) days from receipt of Buyer's notice to respond with counter technology. If Buyer deems Seller's counter technology proposal to be inadequate in Buyers sole discretion for any reason whatsoever, then notwithstanding any other provision herein, Buyer by written notice to Seller may terminate this Agreement with no further obligation other than to take Products previously ordered and not yet delivered and Buyer shall thereafter be free to purchase the substitute product.
Competitive Technology. Quick-Med hereby grants to Avery and its Affiliates a single right of first option to ne▇▇▇▇▇te with Quick-Med in order to enter into an exclusive license on terms and conditions acceptable to both Parties to Use within the Field of Use each Competitive Technology or material Development thereto (each, a “CT Option” and, collectively with the Next Gen Option and the Stay Fresh® Option, the “Options”). In the event Quick-Med provides Avery notice of a Competitive Technology or a material Develo▇▇▇▇▇ thereto on or before the date that is thirty (30) months after the Effective Date, Avery shall have until the third anniversary of the Effective ▇▇▇▇ to exercise the CT Option with respect to such Competitive Technology or material Development. In the event Quick-Med provides Avery notice of a Competitive Technology or a material Develo▇▇▇▇▇ thereto any time after the date that is thirty (30) months after the Effective date, Avery shall have six months from the date it receives such no▇▇▇▇ to exercise the CT Option with respect to such Competitive Technology or material Development. Notwithstanding the foregoing, if Avery markets: (a) any adhesive product in medical devices or ▇▇▇▇r health care applications using a non-leaching antimicrobial other than under license from Quick-Med, or (b) any pressure sensitive adhesive product in any non-medical device or non-health care application using a non-leaching antimicrobial other than under license from Quick-Med, then Quick-Med's obligation to grant Avery and its affiliates CT Options pursuant to this Se▇▇▇▇▇ ▇.▇ ▇hall terminate immediately.
Competitive Technology. (a) Licensee agrees that, during the Term, neither the Licensee nor any of its Affiliates as at the date of this Agreement shall, directly or indirectly, develop, implement or use, or have developed. implemented or used (whether on Licensee’s own or by obtaining from any third party any license or other right to use or any services based upon) any technology that is competitive with the Mobot Technology. In addition, Licensee agrees that, during the Term, neither the Licensee nor any of its Affiliates as of the date of this Agreement shall, directly or indirectly, engage or participate in (as an owner, investor, partner, consultant, independent -contractor, advisor or otherwise), or assist in any manner or in any capacity in, or have any interest in or make any loan to any person, firm, corporation or business which engages in, any Competitive Business.
(b) In addition to the provisions of Section 8.7(a), if Licensee acquires or merges with (regardless of the exact form of such combination) another party such that such other party would then be an Affiliate of Licensee (a “Future Affiliate”), and the Future Affiliate at the time of such acquisition or merger or at any time thereafter either (i) directly or indirectly, develops or implements or has developed or implemented any image processing or recognition technology that is competitive with the Mobot Technology, or (ii) directly or indirectly, engages or participates in (as an owner, investor, partner, consultant, independent -contractor, advisor or otherwise), or assists in any manner or in any capacity in, or has any interest in or makes any loan to any person, firm, corporation or business which engages in, any Competitive Business, then, at Mobot’s option, Mobot may terminate this Agreement upon no less than sixty (60) days’ written notice to Licensee. Such termination by Mobot shall be treated as a Termination by Licensee, without cause, as more fully described in Section 10.5, below.
Competitive Technology. If at any time during the term of this Agreement, Sublicensor develops any technology, or files or obtains rights to any patent application in the Territory that Sublicensor intends to license to a third party, which is, or which can reasonably be expected to be, competitive with the Sublicensed Products, the Sublicensed Technology or Sublicensed Patent Rights (each a “Competitive Technology”), Sublicensor shall notify Sublicensee that it intends to seek third-party sublicensees for such Competitive Technology prior to contacting any other potential third-party sublicensees. Such notice shall include reasonably detailed technical information concerning the Competitive Technology including, without limitation, a complete copy of any such application. Sublicensee shall notify Sublicensor within thirty (30) days after receiving such notice whether Sublicensee is interested in negotiating a license for such Competitive Technology. If Sublicensee timely provides such notice, the Parties shall negotiate such a license in good faith for a period of up to thirty (30) days after Sublicensor receives Sublicensee’s notice of interest (the “Competitive Negotiation Period”). Sublicensor shall be free to discuss licensing such Competitive Technology with third parties and to grant such a license to one or more third parties (i) if Sublicensee fails to timely respond to Sublicensor’s notice of intent to license the Competitive Technology, or (ii) if Sublicensor and Sublicensee fail to agree upon the terms of a possible license to the Competitive Technology prior to expiration of the Competitive Negotiation Period.