Common use of Ownership of Intellectual Property Arising From the Program Clause in Contracts

Ownership of Intellectual Property Arising From the Program. Ownership of Patent Rights and Technology arising from the Program shall be allocated in the following manner: (i) Phytera shall have sole ownership of all right, title, and interest in Phytera Patent Rights and Phytera Technology; (ii) NeuroSearch shall have sole ownership of all right, title, and interest in NeuroSearch Patent Rights and NeuroSearch Technology; and (iii) Phytera and NeuroSearch shall have joint ownership of all right, title, and interest in Joint Patent Rights and Joint Technology, which shall be subject to the provisions of Section 6 hereof. Each party shall ensure that its employees, consultants, agents, and representatives are contractually required to assign to such party all Patent Rights and other rights in Technology arising from the Program and to promptly disclose to such party all patentable inventions within that Technology.