Common use of HMI Patent Rights Clause in Contracts

HMI Patent Rights. HMI will be responsible for the preparation, filing, prosecution, and maintenance of all [***]; provided, that the overall strategy for such preparation, filing, prosecution, and maintenance of the [***] will be consistent with the strategy determined for such Patent Rights by the Parties either directly or through the JSC (or corresponding Subcommittee). The HMI External Costs incurred to obtain, prosecute, and maintain (a) [***] will be borne [***]% by HMI and [***]% by NVS; [***]. HMI will invoice NVS for those agreed upon External Costs incurred to obtain, prosecute and maintain [***] on a Calendar Quarterly basis, and NVS will pay all such undisputed invoices no later than [***] after receipt thereof. HMI will provide copies of draft filings and material communications with any patent authority related to all pending [***] in advance of submission for review and comment by the NVS. HMI, its agents and attorneys will consider in good faith all comments timely provided to HMI by NVS on such filings and communications related to Candidates and Products (provided, that NVS does so promptly and consistent with any applicable filing deadlines) and, in all events, HMI will provide NVS with copies of all such filings and material communications submitted to or received from any patent authority. If HMI elects to abandon any HMI Patent Right, then NVS will have the option to continue to prosecute and maintain such Patent Right in HMI’s name and at NVS’ expense; provided, however, that if HMI does so and NVS exercises its option to continue to prosecute any such [***], then (i) NVS will [***] and (ii) [***].

Appears in 4 contracts

Samples: Collaboration and License Agreement (Homology Medicines, Inc.), Collaboration and License Agreement (Homology Medicines, Inc.), Collaboration and License Agreement (Homology Medicines, Inc.)

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