Common use of Prosecution of Patent Applications Clause in Contracts

Prosecution of Patent Applications. As of the Effective Date (as hereinafter defined in Section 16 of this Agreement), Licensee shall assume, at its own expense and in Licensor’s name, responsibility for the prosecution and/or maintenance of the licensed patents included in the Properties and the Improvements (the “Licensed Patents”), and licensed trademarks, tradenames and copyrights included in the Properties and the Improvements (the “Licensed Tradenames”, “Licensed Trademarks” and “Licensed Copyrights”, respectively). All granted Licensed Trademarks, Tradenames, Licensed Patents and Licensed Copyrights will be owned by and registered solely in the name of the Licensor. Licensor agrees to fully cooperate with Licensee in filing, prosecuting, and maintaining the Licensed Patents, Licensed Tradenames, Licensed Trademarks, and Licensed Copyrights. Licensor agrees to execute any documents that may be necessary for such purpose, and not to impair in any way the patentability or registration of any of the foregoing. Additionally, Licensor may elect, in his sole and absolute discretion, to file, prosecute and maintain, at his own expense and in his own name, patent, tradename, trademark and copyright applications and registrations in connection with any Property or Improvement.