Joint IPR as Set Forth Sample Clauses

Joint IPR as Set Forth in Section 6.1.5. The Joint Steering Committee shall have the rights to manage Developed IPR Jointly Owned by JBT and Response as set forth in Section 6.1.5, and select counsel of choice in preparing and, filing patent applications therefore (in the name of both JBT and Response) and thereafter prosecute, maintain, and even abandon Patent Rights stemming therefrom. The Parties shall execute such documents and perform such ministerial acts, as may be reasonably necessary for the Parties to file, prosecute and maintain Patent Rights claiming such Joint IPR and shall equally split the costs associated thereof. If at any time any Party abandons its share over the Joint IPR, it shall not have obligation to bear the above-mentioned costs incurred thereafter, and the other Party will become the sole owner of such Joint IPR; furthermore, after such abandonment by a Party, the Joint IPR will become the Developed IPR Owned by Response or the Developed IPR Owned by JBT (as the case may be).