Grant of Option to Applications and Markets Sample Clauses

Grant of Option to Applications and Markets. WUSTL may present proposals to SIGA for development of products for applications and/or markets that are not being actively pursued by SIGA at the time of presentation. SIGA will have 90 days after submission of such a proposal to declare interest in writing in the proposal and in developing a competitive plan to address the application and/or market. SIGA will have an additional 120 days from the declaration of interest to provide a competitive plan to WUSTL. If SIGA fails to declare interest, or fails to provide a competitive plan after a declaration of interest, then in either case this option will expire and WUSTL will have the right to license others in that specific field of use.
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