Option of Licensee to Prosecute and Maintain Patents. Merck shall give notice to Licensee of any desire to cease prosecution and/or maintenance of the Merck Patent Rights and, in such case, shall permit Licensee, at Licensee’s sole discretion, to continue the prosecution or maintenance at its own expense. If Licensee elects to continue the prosecution or maintenance, Merck shall execute such documents and perform such acts, at Licensee’s expense, as may be reasonably necessary to effect an assignment of such Merck Patent Rights to Licensee. Any such assignment shall be completed in a timely manner to allow Licensee to continue such prosecution or maintenance. Any patents or patent applications so assigned shall no longer be considered Merck Patent Rights; except that Merck and its Affiliates shall retain:
Appears in 2 contracts
Samples: How License Agreement (Cerecor Inc.), How License Agreement (Cerecor Inc.)
Option of Licensee to Prosecute and Maintain Patents. Merck shall give notice to Licensee of any desire to cease prosecution and/or or maintenance of the Merck Patent Rights or Merck Improvement Patents and, in such case, shall permit Licensee, at Licensee’s sole discretion, to continue the prosecution or maintenance at its own expense. If Licensee elects to continue the prosecution or maintenance, Merck shall execute such documents and perform such acts, at Licensee’s expense, as may be reasonably necessary to effect an assignment of such Merck Patent Rights or Merck Improvement Patents to Licensee. Any such assignment shall be completed in a timely manner to allow Licensee to continue such prosecution or maintenance. Any patents or patent applications so assigned shall no longer be considered Merck Patent RightsRights or Merck Improvement Patents; except that Merck and its Affiliates shall retain:
Appears in 2 contracts
Samples: Exclusive Patent And (Cerecor Inc.), Exclusive Patent And (Cerecor Inc.)
