Common use of OPTION CLAUSE Clause in Contracts

OPTION CLAUSE. If any patent rights, trade secret rights, or other intellectual property rights of a party are reflected in or included in any Confidential Information that is disclosed to the other party, the receiving party shall not thereby acquire any license or other rights under those patent rights, trade secret rights, or other intellectual property rights of the disclosing party; except that University shall have a limited license under any such rights of Sponsor, this license being limited to University's activities in performing the Project.