Common use of Pre-Existing Clause in Contracts

Pre-Existing. Each party shall retain exclusive ownership of Intellectual Property created, authored, or invented by it prior to the commencement of the Services. If Customer provides Rackspace with its Customer IP, Customer hereby grants to Rackspace, during the term of the applicable Service Order, a limited, worldwide, non-exclusive, non-transferable, royalty-free, right and license (with right of sub-license where required to

Pre-Existing. Each party shall retain exclusive ownership of Intellectual Property created, authored, or invented by it prior to the commencement of the Services. If Customer provides Rackspace with its Customer IP, Customer hereby grants to Rackspace, during the term of the applicable Service Order, a limited, worldwide, non-exclusive, non-transferable, royalty-free, right and license (with right of sub-license where required toto perform the Services) to use the Customer IP solely for the purpose of providing the Services. Customer