Common use of Foreground IP Clause in Contracts

Foreground IP. 12.1 BioStar acknowledges and agrees that all Foreground IP vests in and is the exclusive property of Biota and save as provided in clause 12.3, BioStar has no right, title or interest whatsoever in or in relation to Foreground IP. To the extent that the Foreground IP does not vest in Biota as a result of the foregoing BioStar undertakes to procure the assignment of such Foreground IP to Biota and to provide all information, execute all documents and do all acts and things necessary or desirable to give effect this clause 12. 12.2 BioStar must disclose to Biota all Foreground IP (except Foreground IP which is discovered by or in conjunction with Biota), as soon as reasonably practicable after becoming aware of that Foreground IP. 12.3 Biota hereby grants BioStar a non-exclusive license to use the Foreground IP to the extent necessary to enable BioStar to exercise its rights under clause 7. BioStar acknowledges that subject to the terms of this Agreement third parties may also be granted by Biota rights to use the Foreground IP. 12.4 Subject to the terms of this Agreement, the parties acknowledge and agree that Biota shall have the exclusive right to commercially exploit and to protect any Foreground IP in whatever manner Biota may choose, including without limitation, licensing of any third party or filing any patent application during or after termination of this Agreement. Except as provided for in this Agreement (including clause 16.