Common use of Modifications to the Product Clause in Contracts

Modifications to the Product. The Company reserves its right and discretion to discontinue developing, producing, licensing, or distributing the Product, and/or to modify and/or to make changes in the Product, at any time with sixty (60) days prior notice to Agent. It is hereby agreed and declared that any future development or improvement of the Product by the Company or any kind of knowledge in connection with the current applications of the Product shall be solely made and owned by the Company and the Agent shall not have any rights in such developments and/or knowledge. The Company shall keep the Agent reasonably advised of any improvements and modifications of the Product. This provision shall be effective even if such developments and/or knowledge shall be achieved by using the Agent’s funding and even if such developments and/or knowledge shall be achieved during the period of this Agreement.

Modifications to the Product. The Company reserves its right and discretion to discontinue developing, producing, licensing, or distributing the Product, and/or to modify and/or to make changes in the Product, at any time with sixty thirty (6030) days prior notice to Agent. It is hereby agreed and declared that any future development or improvement of the Product by the Company or any kind of knowledge in connection with the current applications of the Product shall be solely made and owned by the Company and the Agent shall not have any rights in such developments and/or knowledge. The Company shall keep the Agent reasonably advised of any improvements and modifications of the Product. This provision shall be effective even if such developments and/or knowledge shall be achieved by using the Agent’s funding and even if such developments and/or knowledge shall be achieved during the period of this Agreement.