Common use of Patent Extension Clause in Contracts

Patent Extension. With respect to any issued patent in the Intellectual Property, Licensor will designate Licensees as its agent for obtaining an extension of such patent or governmental equivalent which extends the exclusivity of any of the patent subject matter where available in any country in the world, or if not feasible, at Licensees’ option, permit Licensees to file in Licensor’s name or diligently obtain such extension for the Licensees, or their Sublicensees at Licensees’ expense. Licensor agrees to provide reasonable assistance, at no out-of-pocket expense, to facilitate Licensees’ efforts to obtain any extension. If for any reason the Licensees fail to exercise diligent efforts to obtain any extension or determine that it will not seek such extension, the Licensees shall provide reasonable assistance, at no out-of-pocket expense, to facilitate Licensor’s efforts to obtain any such extension.

Appears in 2 contracts

Samples: Intellectual Property License Agreement (Vivakor, Inc.), Intellectual Property License Agreement (Vivakor, Inc.)

AutoNDA by SimpleDocs

Patent Extension. With respect to any issued patent in the Intellectual Property, Licensor will designate Licensees Licensee as its agent for obtaining an extension of such patent or governmental equivalent which extends the exclusivity of any of the patent subject matter where available in any country in the world, or if not feasible, at Licensees’ Licensee’s option, permit Licensees Licensee to file in Licensor’s name or diligently obtain such extension for the LicenseesLicensee, or their its Sublicensees at Licensees’ Licensee’s expense. Licensor agrees to provide reasonable assistance, at no out-of-pocket expense, to facilitate Licensees’ efforts to obtain any extension. If for any reason the Licensees fail Licensee fails to exercise diligent efforts to obtain any extension or determine that it will not seek such extension, the Licensees Licensee shall provide reasonable assistance, at no out-of-pocket expense, to facilitate Licensor’s efforts to obtain any such extension.

Appears in 1 contract

Samples: Patent and Intellectual Property License Agreement (Vivakor, Inc.)

AutoNDA by SimpleDocs

Patent Extension. With respect to any issued patent in the Intellectual Property, Licensor will designate Licensees Licensee as its agent for obtaining an extension of such patent or governmental equivalent which extends the exclusivity of any of the patent subject matter where available in any country in the world, or if not feasible, at Licensees’ Licensee’s option, permit Licensees Licensee to file in Licensor’s name or diligently obtain such extension for the LicenseesLicensee, or their Sublicensees Sublicensee at Licensees’ Licensee’s expense. Licensor agrees to provide reasonable assistance, at no out-of-pocket expense, to facilitate Licensees’ Licensee’s efforts to obtain any extension. If for any reason the Licensees Licensee fail to exercise diligent efforts to obtain any extension or determine that it will not seek such extension, the Licensees Licensee shall provide reasonable assistance, at no out-of-pocket expense, to facilitate Licensor’s efforts to obtain any such extension.

Appears in 1 contract

Samples: Intellectual Property License Agreement (Vivakor, Inc.)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!