Common use of Ownership and Retention of Rights Clause in Contracts

Ownership and Retention of Rights. GFD acknowledges that the Strategy and the Licensor Marks are the exclusive property of Licensor and that Licensor has and retains all Intellectual Property rights therein. GFD shall not during the term of this Agreement or at any time thereafter, directly or indirectly: (i) challenge or contest, or assist any third party in challenging or contesting, the validity of Licensor’s rights to its Intellectual Property or the Licensor Marks or (ii) attempt to register any such Intellectual Property or Licensor Marks in any jurisdiction. Except as otherwise specifically provided herein, Licensor reserves all rights to the Strategy and the Licensor Marks, and this Agreement shall not be construed to transfer to the GFDGFD any ownership right to, or equity interest in, any of the Strategy or the Licensor Marks, or in any Intellectual Property or other proprietary rights pertaining thereto.