Improvements by ACORDA Clause Samples
The "Improvements by ACORDA" clause defines how any enhancements, modifications, or new inventions developed by ACORDA during the course of an agreement are to be handled. Typically, this clause clarifies whether such improvements are owned by ACORDA, whether they must be disclosed to the other party, and if the other party receives any rights to use or license these improvements. For example, if ACORDA develops a new process or technology related to the subject matter of the agreement, this clause would specify who holds the intellectual property rights and how those improvements may be commercialized. The core function of this clause is to allocate ownership and usage rights for innovations made by ACORDA, thereby preventing future disputes and ensuring both parties understand their respective interests in any new developments.
Improvements by ACORDA. All rights and title to and interest in any Improvement developed or discovered by ACORDA in connection with the license granted under Section 2.1 above or ACORDA’s activities hereunder shall be vested solely in ACORDA. Notwithstanding the provisions of 2.2, Acorda will continue to have royalty obligations set forth in Article V, to the extent applicable, with respect to any Product that contains an Improvement and which includes the Compound as the primary therapeutically active ingredient.