Income Distribution. 11.1 For Joint Ownership Intellectual Property the Parties agree to share equally all income received from licensing and commercialization of the Intellectual Property or any other technology that might result from the present and future collaboration on the Joint Project. In the event gross royalties do not cover the accrued legal costs expended by any Party with respect to jointly developed Intellectual Property, no Party shall be held responsible for reimbursing the other Party (Parties).
Appears in 8 contracts
Samples: Hydrogen Motors, Inc., Hydrogen Motors, Inc., Hydrogen Motors, Inc.
