Development Commercialization and Supply Clause Samples
The DEVELOPMENT, COMMERCIALIZATION AND SUPPLY clause outlines the parties' respective rights and obligations regarding the creation, marketing, and provision of a product or technology. It typically specifies how development activities will be conducted, who is responsible for bringing the product to market, and how supply logistics will be managed, including timelines, quality standards, and distribution channels. This clause ensures that all parties have a clear understanding of their roles throughout the product lifecycle, thereby reducing misunderstandings and facilitating efficient collaboration from development through to commercial sale and supply.
Development Commercialization and Supply. 5.01 SB shall have full control and authority over, and responsibility for, research, development, registration and commercialization of PRODUCT in the TERRITORY. SB will exercise its reasonable efforts and diligence in developing and commercializing PRODUCT in accordance with its business, legal, medical and scientific judgment, and in undertaking investigations and actions required to obtain appropriate governmental approvals to market PRODUCT in the TERRITORY. All such activity shall be undertaken at SB's expense.
5.02 SB shall keep JAGO regularly informed, at least semi-annually, of progress of SB's efforts to develop and commercialize PRODUCT, and of all marketing approvals for PRODUCT which are obtained.
5.03 Upon reasonable notice by SB, JAGO shall provide continuing reasonable support to SB related to the scale-up of manufacturing procedures for PRODUCT. In addition, JAGO shall provide to SB, at SB's request, additional reasonable technical assistance within its area of expertise concerning development, registration, production and commercialization of PRODUCT. Provision of such technical assistance shall include, but not be limited to, visits by JAGO personnel to SB and visits by SB personnel to JAGO at times and for periods of time upon which the parties will agree, and supply of any KNOW-HOW which SB may require. SB will be responsible for any and all reasonable and documented travel related and accommodation expenses incurred by JAGO for JAGO personnel who travel at SB's request to locations remote from JAGO PHARMA's home office in Muttenz, Switzerland, or from such personnel's other ordinary place of work. It is understood that, in addition to SB's payment of JAGO's travel expenses associated with the provision of such support and assistance as outlined above, SB shall reimburse JAGO for such reasonable support and technical assistance as follows:
(a) no reimbursement to JAGO for a total of the first twenty (20) person days of JAGO full time equivalent (FTE) assistance;
(b) subsequent to the complete utilization of the assistance outlined in Paragraph 5.03 (a), reimbursement shall be at a rate of £[Confidential Information Has Been Omitted And Furnished Separately To The Securities And Exchange Commission] per person-day/per FTE until a total of ten (10) person days of FTE assistance has been employed; and
(c) subsequent to the complete utilization of the assistance outlined in Paragraph 5.03(b), reimbursement shall be at a rate of £[Confident...
Development Commercialization and Supply