Common use of PATENT ONLY Clause in Contracts

PATENT ONLY. 3.1 Sections 3.1, and 3.2 of this Agreement shall apply where the Inventor has given notice in writing to the University of his/her intention to patent the Project Intellectual Property, but has no immediate plans to seek to commercialize the said Project Intellectual Property, whether with or without the assistance of any third party; further the Inventor has no intention to transfer, assign, alienate or by any other means relinquish any interest in the Project Intellectual Property. Where the Inventor wishes to take advantage of the right not to undertake immediate Commercialization, he/she and the University shall sign the present Agreement, together with the Patent-Only Schedule, attached hereto. By signing this Agreement and the Patent-Only Schedule, the University and the Inventor acknowledge and agree that there is no obligation on the part of the Inventor to proceed to Commercialization. The parties further agree that, in compliance with Articles 27.09 and 27.14 1 (c) of the CUFA Collective Agreement, that the Inventor who has chosen only to patent, has the sole discretion to determine whether to Commercialize and is entitled to choose the time when such Commercialization will occur. 3.2 The Patent-Only Schedule, once signed by the Inventor and the University, shall continue in effect so long as no steps are taken by the Inventor or any other person acting on behalf of the Inventor to commercialize the Project Intellectual Property. Section 4.7 of this Agreement shall not apply, unless and until such time as any step towards Commercialization of the Project Intellectual Property is initiated by the Inventor, or any other person acting on behalf of the Inventor. Where the Inventor, or any other person acting on behalf of the Inventor, undertakes any act or takes any step which can be reasonably construed to initiate Commercialization, the Patent-Only Schedule shall immediately become null and void and of no effect and the Inventor shall notify the Office of Research in writing of the change in intention. The member may, in such notification, alter her or his option and select Employer-led Commercialization as set out in Article 27.14 1 (a) and the provisions of Article 27.15 of the CUFA Collective Agreement shall then apply.

PATENT ONLY. 3.1 Sections 3.1, and 3.2 of this Agreement shall apply where the Inventor has given notice in writing to the University of his/her intention to patent the Project Intellectual Property, but has no immediate plans to seek to commercialize the said Project Intellectual Property, whether with or without the assistance of any third party; further the Inventor has no intention to transfer, assign, alienate or by any other means relinquish any interest in the Project Intellectual Property. Where the Inventor wishes to take advantage of the right not to undertake immediate Commercialization, he/she and the University shall sign the present Agreement, together with the Patent-Only Schedule, attached hereto. By signing this Agreement and the Patent-Only Schedule, the University and the Inventor acknowledge and agree that there is no obligation on the part of the Inventor to proceed to Commercialization. The parties further agree that, in compliance with Articles 27.09 and 27.14 1 (c) of the CUFA Collective Agreement, that the Inventor who has chosen only to patent, has the sole discretion to determine whether to Commercialize and is entitled to choose the time when such Commercialization will occur. 3.2 The Patent-Only Schedule, once signed by the Inventor and the University, shall continue in effect so long as no steps are taken by the Inventor or any other person acting on behalf of the Inventor to commercialize the Project Intellectual Property. Section 4.7 of this Agreement shall not apply, unless and until such time as any step towards Commercialization of the Project Intellectual Property is initiated by the Inventor, or any other person acting on behalf of the Inventor. Where the Inventor, or any other person acting on behalf of the Inventor, Inventor undertakes any act or takes any step which can be reasonably construed to initiate Commercialization, the Patent-Only Schedule shall immediately become null and void and of no effect and the Inventor shall notify the Office of Research in writing of the change in intention. The member may, in such notification, alter her or his option and select Employer-led Commercialization as set out in Article 27.14 1 (a) and the provisions of Article 27.15 of the CUFA Collective Agreement shall then apply.

PATENT ONLY. 3.1 Sections 3.1, and 3.2 of this Agreement shall apply where the Inventor has given notice in writing to the University of his/her intention to patent the Project Intellectual Property, but has no immediate plans to seek to commercialize the said Project Intellectual Property, whether with or without the assistance of any third party; further the Inventor has no intention to transfer, assign, alienate or by any other means relinquish any interest in the Project Intellectual Property. Where the Inventor wishes to take advantage of the right not to undertake immediate Commercialization, he/she and the University shall sign the present Agreement, together with the Patent-Only Schedule, attached hereto. By signing this Agreement and the Patent-Only Schedule, the University and the Inventor acknowledge and agree that there is no obligation on the part of the Inventor to proceed to Commercialization. The parties further agree that, in compliance with Articles 27.09 and 27.14 1 (c) of the CUFA Collective Agreement, that the Inventor who has chosen only to patent, has the sole discretion to determine whether to Commercialize and is entitled to choose the time when such Commercialization will occur. 3.2 The Patent-Only Schedule, once signed by the Inventor and the University, shall continue in effect so long as no steps are taken by the Inventor or any other person acting on behalf of the Inventor to commercialize the Project Intellectual Property. Section 4.7 of this Agreement shall not apply, unless and until such time as any step towards Commercialization of the Project Intellectual Property is initiated by the Inventor, or any other person acting on behalf of the Inventor. Where the Inventor, or any other person acting on behalf of the Inventor, Inventor undertakes any act or takes any step which can be reasonably construed to initiate Commercialization, the Patent-Only Schedule shall immediately become null and void and of no effect and the Inventor shall notify the Office of Research in writing of the change in intention. The member may, in such notification, alter his or her or his option and select Employer-led Commercialization as set out in Article 27.14 1 (ab) and the provisions of Article 27.15 of the CUFA Collective Agreement shall then apply.