Option to License the Research Results; Ownership of the Research Results and Other Intellectual Property Sample Clauses

Option to License the Research Results; Ownership of the Research Results and Other Intellectual Property. 3.1 Yissum hereby grants the Company an exclusive option (the “Option”) to receive an exclusive royalty-bearing license, in the Territory, to develop and commercialize Yissum’s interest in the Research Results (the “License”) upon the commercial terms and conditions set forth in Appendix C and on other terms and conditions to be negotiated in good faith by the Parties (the “Additional Terms and Conditions”), all to be set forth in a license agreement (the “License Agreement”). 3.2 The Company may exercise the Option at any time from the Effective Date up to and including ninety (90) days from the Company’s receipt of the Final Scientific Report (the “Option Exercise Period”) by notifying Yissum in writing (the “Option Exercise Notice”). 3.3 Upon the date of Xxxxxx’s receipt of the Option Exercise Notice within the Option Exercise Period, Yissum and the Company shall negotiate the Additional Terms and Conditions during a period of up to one hundred and twenty (120) days of such receipt (the “Negotiation Period”). 3.4 All rights in the Research Results, including in any patent applications that may be filed in connection with the Research Results, shall be owned by Yissum unless an employee of the Company is properly considered an inventor (according to US law) of any patent application so filed, in which event such patent application shall be owned jointly by Yissum and the Company (the “Joint Patent”). All rights in any other intellectual property developed solely by the employees or representatives of one Party shall belong exclusively to such Party. 3.5 Notwithstanding the foregoing in Section 3.4, above, should the Company not exercise the Option within the Option Exercise Period, or the Parties fail to execute a License Agreement within the Negotiation Period despite good-faith negotiations, neither Yissum nor the Researcher shall have any further obligations towards the Company with respect to negotiating a License to the Research Results, whether solely owned by Yissum or jointly held with the Company. In such event, the Company agrees to take all reasonably necessary actions to assign its interest in any Joint Patent to Yissum without any compensation to be paid by Yissum to the Company. Thereafter, Yissum shall be entitled to commercialize or otherwise grant third parties any right or title in and to the Research Results according to Yissum’s sole discretion and without any further obligation to the Company.
Sample 1
Option to License the Research Results; Ownership of the Research Results and Other Intellectual Property. 3.1. Yissum hereby grants the Company an exclusive option (the “Option”) to receive an exclusive royalty- bearing license, in the Territory, to Yissum’s interest in the Research Results (the “License”) upon commercial and other terms and conditions to be negotiated and set forth in a license agreement to be negotiated between the Parties (the “License Agreement”). 3.2. The Company may exercise the Option at any time from the Effective Date up to and including sixty (60) days from the Company’s receipt of the Scientific Report (the “Option Exercise Period”) by notifying Yissum in writing (the “Option Exercise Notice”). 3.3. Upon the date of Xxxxxx’s receipt of the Option Exercise Notice within the Option Exercise Period, Yissum and the Company shall negotiate the terms and conditions of the License Agreement during a period of up to one hundred and twenty (120) days (the “Negotiation Period”).
Sample 1

Related to Option to License the Research Results; Ownership of the Research Results and Other Intellectual Property

  • Other Intellectual Property Joint ownership; exceptions 14.3.1 The University and Creator shall jointly own Other Intellectual Property created during the course of regular University duties and/or using University Resources subject to the following exceptions: (a) The University or a third party may own or have a licence to use Other Intellectual Property created pursuant to a written agreement with a third party, provided that the University advises the Creator of his/her right to consult with the Association prior to the Creator’s execution of a written agreement and obtains the Creator’s written consent; (b) The Creator may voluntarily assign or licence his/her interest in Other Intellectual Property to the University, provided that the University advises the Creator of his/her right to consult with the Association prior to the execution of the assignment or licence. No such assignment or licence shall diminish the Creator’s right to revenue sharing under this Article; (c) Where the use of University services as defined in 14.1.9 did not have a significant effect on the creation of Other Intellectual Property, the use of such services shall not be taken into account in determining ownership of the Other Intellectual Property. 14.3.2 Neither the Creator nor the University shall have an obligation to Commercialize Other Intellectual Property. Creators have no obligation to modify research to enhance the potential for Commercialization. 14.3.3 Creators may Commercialize Other Intellectual Property jointly owned with the University independently of the University, subject to any rights granted to a third party pursuant to a written agreement consented to by the Creator and/or the right of the University and the Creator to revenue sharing and cost recovery pursuant to this Article. 14.3.4 Creators must disclose to the University their intention to Commercialize Other Intellectual Property, whether or not they choose to involve the University in the Commercialization process. The University agrees to keep all such information confidential and not to disclose such information externally, except with the prior written consent of the Creator.

  • Intellectual Properties To the extent permissible under applicable law, all intellectual properties made or conceived by Employee during the term of this employment by Employer shall be the right and property solely of Employer, whether developed independently by Employee or jointly with others. The Employee will sign the Employer’s standard Employee Innovation, Proprietary Information and Confidentiality Agreement (“Confidentiality Agreement”).

  • License of Intellectual Property Each Party (a “Licensor”) grants the other Party (a “Licensee”) the non-exclusive, royalty-free, paid-up, worldwide, irrevocable, right, during the term of this Agreement, to use the Licensor’s Intellectual Property solely for the purposes of this Agreement and to carry out the Party’s functions consistent with its responsibilities and authority as set forth in the enable legislation and regulations. Such licenses shall not give the Licensee any ownership interest in or rights to the Intellectual Property of the Licensor. Each Licensee agrees to abide by all third-party license and confidentiality restrictions or obligations applicable to the Licensor’s Intellectual Property of which the Licensor has notified the Licensee in writing.