Common use of Inventions and Patent Rights Clause in Contracts

Inventions and Patent Rights. 8.1 University will make reasonable efforts to secure from personnel assigned to this Study, disclosures of any and all inventions and improvements conceived or reduced to practice by said personnel in the performance of this Study. In the event these inventions and improvements are derived from work funded by federal funds, the Federal Government can exercise its right to a royalty-free license on each of these inventions and improvements. University shall retain all right, title and interest in and to such inventions and improvements and all patent applications it may file at its election. 8.2 In consideration of Sponsor support of this Study, and subject to the rights set forth in 8.1, supra, University agrees to grant Sponsor an option for an exclusive license on any such invention(s) and improvement(s). This option will exist for six (6) months after University has informed Sponsor of the invention(s) or improvement(s). If Sponsor exercises its option, Sponsor and University shall negotiate in good faith toward mutually agreeable terms to a license agreement. These negotiations shall be concluded within three (3) months from the date Sponsor exercises its option, unless the time period is extended in writing by mutual agreement. 8.3 Rights to inventions, improvements, and/or discoveries conceived and/or made during the Contract Period of this Study, whether patentable or copyrightable or not, relating to the Study which are made jointly by University employees and Sponsor employees, shall be the joint property of University and Sponsor, subject to the terms and conditions of this Agreement. 8.4 All inventions or improvements conceived or first reduced to practice during the term of this Agreement by Sponsor shall be owned by Sponsor.

Inventions and Patent Rights. 8.1 University will make reasonable efforts to secure from personnel assigned to this StudyProject, disclosures of any and all inventions and improvements conceived or reduced to practice by said personnel in the performance of this StudyProject. In the event these inventions and improvements are derived from work funded by federal funds, the Federal Government can exercise its right to a royalty-free license on each of these inventions and improvements. University shall retain all right, title and interest in and to such inventions and improvements and all patent applications it may file at its election. 8.2 In consideration of Sponsor support of this Studystudy, and subject to the rights set forth in 8.1, supra, University agrees to grant Sponsor an option for an exclusive license on any such invention(s) and improvement(s). This option will exist for six (6) months after University has informed Sponsor of the invention(s) or improvement(s). If Sponsor exercises its option, Sponsor and University shall negotiate in good faith toward mutually agreeable terms to a license agreement. These negotiations shall be concluded within three (3) months from the date Sponsor exercises its option, unless the time period is extended in writing by mutual agreement. 8.3 Rights to inventions, improvements, and/or discoveries conceived and/or made during the Contract Period of this StudyProject, whether patentable or copyrightable or not, relating to the Study Project which are made jointly by University employees and Sponsor employees, shall be the joint property of University and Sponsor, subject to the terms and conditions of this Agreement. 8.4 All inventions or improvements conceived or first reduced to practice during the term of this Agreement by Sponsor shall be owned by Sponsor.