Common use of Patent Agreement Clause in Contracts

Patent Agreement. 10.6.3.1 Where one or more employees have been hired (full or part-time) in an appointment to create and produce a specific, tangible product for OC, or where an invention, improvement, design or development was made by an employee(s) with the use of the OC funds, personnel or equipment, the employee(s) shall sign an Agreement with OC before an application for patent is filed. 10.6.3.2 Such Agreement shall provide that OC shall assign all its right, title and interest in the invention, improvement, design or development to the employee(s), subject to OC and the employee(s) sharing equally in the “net proceeds” derived therefrom. The term “net proceeds” as used in this Article shall mean the net profits derived from licensing or commercialization of the patented product, equipment or process after deduction of all expenses incurred in patent searches, for obtaining patent protection and for maintaining said protection in Canada and in other countries.

Patent Agreement. 10.6.3.1 9.6.3.1 Where one or more employees have been hired (full or part-time) in an appointment to create and produce a specific, tangible product for OCOUC, or where an invention, improvement, design or development was made by an employee(s) with the use of the OC OUC funds, personnel or equipment, the employee(s) shall sign an Agreement with OC OUC before an application for patent is filed. 10.6.3.2 9.6.3.2 Such Agreement shall provide that OC OUC shall assign all its right, title and interest in the invention, improvement, design or development to the employee(s), subject to OC OUC and the employee(s) sharing equally in the “net proceeds” derived therefrom. The term “net proceeds” as used in this Article shall mean the net profits derived from licensing or commercialization of the patented product, equipment or process after deduction of all expenses incurred in patent searches, for obtaining patent protection and for maintaining said protection in Canada and in other countries.

Patent Agreement. 10.6.3.1 9.6.3.1 Where one or more employees have been hired (full or part-time) in an appointment to create and produce a specific, tangible product for OC, or where an invention, improvement, design or development was made by an employee(s) with the use of the OC funds, personnel or equipment, the employee(s) shall sign an Agreement with OC before an application for patent is filed. 10.6.3.2 9.6.3.2 Such Agreement shall provide that OC shall assign all its right, title and interest in the invention, improvement, design or development to the employee(s), subject to OC and the employee(s) sharing equally in the “net proceeds” derived therefrom. The term “net proceeds” as used in this Article shall mean the net profits derived from licensing or commercialization of the patented product, equipment or process after deduction of all expenses incurred in patent searches, for obtaining patent protection and for maintaining said protection in Canada and in other countries.