Inhaled License Clause Samples
An Inhaled License clause grants permission to use, possess, or distribute substances or products that are intended to be inhaled, such as medical gases, aerosols, or vaporized medications. This clause typically outlines the scope of the license, specifying which products are covered, the permitted uses, and any regulatory or safety requirements that must be followed. Its core function is to ensure that the licensee is legally authorized to handle inhaled products in compliance with applicable laws, thereby reducing legal risk and clarifying the rights and responsibilities of the parties involved.
Inhaled License. Upon GSK’s exercise of the Inhaled Option pursuant to Section 4.2(b) and subject to the terms and conditions of this Agreement, Liquidia shall be deemed to have granted and hereby grants to GSK an exclusive, worldwide, royalty bearing license, with the right to grant sublicenses solely as provided in Section 5.4, under the Liquidia Technology, Liquidia’s interest in and to Joint Inhaled Collaboration Patents and Joint Inhaled Collaboration Know-How and Liquidia’s interest in and to Joint Vaccine Collaboration Know-How and Joint Vaccine Collaboration Patents to make, have made, use, sell, offer for sale and import Research Products and Inhaled Products (which, for clarity, excludes the Liquidia Respiratory Product) in the Inhaled Field in the Territory (the “Inhaled License”).