Common use of No Employee Ownership Clause in Contracts

No Employee Ownership. No current or former officer, manager, director, stockholder, member, employee, consultant or independent contractor of Target or any Subsidiary of Target has any right, title or interest in, to or under any material Target Owned Intellectual Property that has not been either (a) irrevocably assigned or transferred to Target or the applicable Subsidiary of Target or (b) licensed (with the right to grant sublicenses) to Target or the applicable Subsidiary of Target under an exclusive, irrevocable, worldwide, royalty free, fully paid and assignable license.

No Employee Ownership. No current or former officer, manager, director, stockholder, member, employee, consultant or independent contractor of Target or any Subsidiary of Target has any right, title or interest in, to or under any material Target Owned Intellectual Property or Target Technology that has not been either (aA) irrevocably assigned or transferred to Target or the applicable Subsidiary of Target or (bB) licensed (with the right to grant sublicenses) to Target or the applicable Subsidiary of Target under an exclusive, irrevocable, worldwide, royalty free, fully paid and assignable license.

No Employee Ownership. No current or former officer, manager, director, stockholder, member, employee, consultant or independent contractor of Target, any Target Subsidiary or any Subsidiary of Target Related Business has any right, title or interest in, to or under any material Target Owned Intellectual Property that has not been either (aA) irrevocably assigned or transferred to Target or the applicable Target Subsidiary of or Target Related Business or (bB) licensed (with the right to grant sublicenses) to Target or the applicable Target Subsidiary of or Target Related Business under an exclusive, irrevocable, worldwide, royalty free, fully paid and assignable license.