Joint Registration Compensation Clause Samples
The Joint Registration Compensation clause defines how compensation is allocated between parties who jointly register a product, service, or intellectual property. Typically, this clause outlines the method for dividing any financial benefits, such as royalties or licensing fees, that arise from the joint registration, and may specify the percentage split or the process for determining each party’s share. Its core practical function is to ensure fairness and transparency in the distribution of compensation, thereby preventing disputes over financial entitlements related to jointly registered assets.
Joint Registration Compensation. 1. Before execution by the Lead Registrant of its obligations under Article V of this Agreement, the Co-Registrant shall make payment of a Joint Registration Compensation for the preparation and submission of the Joint Registration Dossier and the grant of rights thereto by the Lead Registrant.
2. The Joint Registration Compensation will comprise following elements:
a) Administrative expenses reasonably incurred by the Lead Registrant and Si Consortium directly related to preparation and submission of the Joint Registration Dossier for the Substance including but not limited to, secretarial, sweat equity, IT and other administrative costs, Trustee costs for management of confidential data and accounting and costs of other external experts including legal support (hereafter “Administrative Costs”).
Joint Registration Compensation. General financial rules
Joint Registration Compensation. 1. Before execution by the Lead Registrant of its obligations under Article V of this Agreement, the Co-Registrant shall make payment of a Joint Registration Compensation for the preparation and submission of the Joint Registration Dossier and the grant of rights thereto by the Lead Registrant.
2. The Joint Registration Compensation will comprise following elements:
a) Administrative expenses reasonably incurred by the Lead Registrant and Si Consortium directly related to preparation and submission of the Joint Registration Dossier for the Substance including but not limited to, secretarial, sweat equity, IT and other administrative costs, Trustee costs for management of confidential data and accounting and costs of other external experts including legal support.
b) Costs of rights secured from a Data Owner to use existing study summaries and refer to full study reports needed for the Joint Registration Dossier where such rights can be transferred to the Co-Registrant, and costs of any additional studies required for registration of the Substance ( new studies required under Annexes VII and VIII of REACH).
3. Expenses and costs comprising the Joint Registration Compensation amount shall be allocated in a transparent, fair and non-discriminatory way amongst the totality of those members of the Substance SIEF which register the Substance. The rules for such allocation are set out in Annex 2.
4. The Joint Registration Compensation shall be paid in one installment. This installment, i.e. the majority of the estimated costs as described in the Annex 2, shall be paid to the Trustee within the set deadline of the invoice issued. The bank account established by the Trustee for these purposes and to which payment of the installment will be indicated on the invoice. The payment must include mention of “[SILICON] LoA PAYMENT” as the purpose and also the Co-Registrant’s pre-registration number. The Co-Registrant will receive the valid security token only after receipt of the full amount of the Joint Registration Compensation in the bank account of the Trustee. Full payment of the Joint Registration Compensation must be received by the Trustee by 16 May 2018. After that date, no guarantee can be given by the Lead Registrant as to a timely treatment of the request.
5. In case additional studies have to be purchased or performed after submission of the Joint Registration Dossier and which are not covered by the Joint Registration Compensation invoice issued pursuant to p...