Common use of Ownership of Patents Clause in Contracts

Ownership of Patents. Inventorship of inventions conceived or reduced to practice in the course of the activities under the Development Plan shall be determined by reference to United States laws pertaining to inventorship. If inventions are conceived or reduced to practice in the course of activities under the Development Plan by an individual obliged to assign patent rights to RBX and an individual obliged to assign patent rights to PII, it shall be jointly owned (“Joint Invention”), and if one or more claims included in any issued Patent or pending Patent application which is filed in a patent office in the Territory claim such Joint Invention, such claims shall be jointly owned (“Joint Patent Rights”). Subject to Section 3.01, during the term of this Agreement, the Parties shall not use or grant any rights under, or otherwise commercialize any Joint Patent Rights or any Joint Invention, and the Parties shall not disclose any Joint Invention to any third Party (except to the extent each Party would be permitted to disclose Confidential Information pursuant to Article IX) without obtaining the prior written consent of the other Party or without mutually agreeing in writing upon terms and condition, including a royalty or other compensation to the other Party. After the expiration or termination of this Agreement, the Parties may use or grant any rights under, or otherwise commercialize, any Joint Patent Rights or any Joint Invention in the Territory, and the Parties may disclose any Joint Invention to any Third Party, all without obtaining the prior written consent of the other Party and without any accounting obligations. If an invention is solely conceived or reduced to practice in the course of activities under the Project by an employee, consultant or agent of a Party, it shall be solely owned by such Party, and any Patent filed claiming such solely owned invention shall also be solely owned by such Party.