Common use of Patents and Proprietary Rights Clause in Contracts

Patents and Proprietary Rights. The parties agree that the Company shall have and be the owner of all patents, patent applications and other proprietary rights in and to any discovery, concept, idea or invention of any kind or nature, whether patentable or not, including, but not limited to, processes, methods, formulas and techniques, as well as improvements thereon, or know-how related thereto, concerning anything in the present or prospective activities of the Company made, developed or conceived by the Executive during the Employment Term, whether or not during the hours of his employment or with the use of the Company’s name (hereinafter referred to as “Inventions”), and all records, documents, notes and information, oral, in writing, or any other form, including, but not limited to, disc, audio, tape or video, relating to such Inventions shall be owned and be the property of the Company. The Company and the Executive shall promptly and diligently prosecute patents, patent applications, proprietary and other similar rights protecting any products or processes developed pursuant to or during the Employment Term and do all acts necessary for obtaining, sustaining, reissuing, defending or extending any such patent, proprietary or similar right. To the extent necessary, the Executive hereby assigns and agrees to assign to the Company all of his rights to such Inventions and to applications for United States and/or foreign Letters Patent granted upon such Inventions and the Executive shall acknowledge and deliver to the Company, without charge to the Company, any such written instruments and do such other acts as may be reasonably necessary to vest the entire rights and title thereto to the Company and provided the same does not require significant effort or expense on the part of the Executive. To the extent a patent or similar right for an Invention is obtainable only in the Executive’s name, the Executive agrees to assign exclusive world-wide licenses and rights to license the patent to the Company for no additional compensation. The Executive shall inform the Company promptly and fully of such Inventions by a written report, setting forth in detail the procedures employed and the results achieved.

Patents and Proprietary Rights. The parties agree that the Company shall have and be the owner of all patents, patent applications and other proprietary rights in and to any discovery, concept, idea or invention of any kind or nature, whether patentable or not, including, including but not limited to, to processes, methods, formulas and techniques, as well as improvements thereon, or know-how related thereto, concerning anything in the present or prospective activities of the Company made, developed or conceived by the Executive during the Employment Term, whether or not during the hours of his employment or with the use of the Company’s 's name (hereinafter referred to as “"Inventions”"), and all records, documents, notes and information, oral, in writing, or any other form, including, including but not limited to, to disc, audio, tape or video, relating to such Inventions shall be owned and be the property of the Company. The Company and the Executive shall promptly and diligently prosecute patents, patent applications, proprietary and other similar rights protecting any products or processes developed pursuant to or during the Employment Term and do all acts necessary for obtaining, sustaining, reissuing, defending or extending any such patent, proprietary or similar right. To the extent necessary, the Executive hereby assigns and agrees to assign to the Company all of his rights to such Inventions and to applications for United States and/or foreign Letters Patent granted upon such Inventions and the Executive shall acknowledge and deliver to the Company, without charge to the Company, any such written instruments and do such other acts as may be reasonably necessary to vest the entire rights and title thereto to the Company and provided the same does not require significant effort or expense on the part of the ExecutiveCompany. To the extent a patent or similar right for an Invention is obtainable only in the Executive’s 's name, the Executive agrees to assign exclusive world-world wide licenses and rights to license the patent to the Company for no additional compensation. The Executive shall inform the Company promptly and fully of such Inventions by a written report, setting forth in detail the procedures employed and the results achieved.