Common use of Secondary Prosecution Rights Clause in Contracts

Secondary Prosecution Rights. If the prosecuting party elects not to continue pursuing Patent Prosecution for an invention within the Program Technology and Program Intellectual Property (and the other party has joint ownership of or a license under such Program Patent Rights pursuant to this Agreement), then the prosecuting party shall notify the other party in writing of such election at least [**] prior to the last available date for action to preserve such Program Patent Rights. If such other party elects to continue Patent Prosecution, it will not be liable to the other party in any way with respect to its handling of, or the results obtained from, such Patent Prosecution. The other party will provide the party taking over Patent Prosecution with such assistance and execute such documents as are necessary to continue or permit such Patent Prosecution.

Appears in 2 contracts

Samples: Collaboration and License Agreement (Lexicon Pharmaceuticals, Inc./De), Collaboration and License Agreement (Lexicon Genetics Inc/Tx)

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Secondary Prosecution Rights. If the prosecuting party elects not to continue pursuing Patent Prosecution for an invention within the Program Technology and Program Intellectual Property Inventions (and the other party has joint ownership of or a license under such Program Patent Rights pursuant to this Agreement), then the prosecuting party shall notify the other party in writing of such election at least [**] days prior to the last available date for action to preserve such Program Patent Rights. If such other party elects to continue Patent Prosecution, it may do so at its own expense. The party taking over Patent Prosecution responsibility will not be liable to the other party in any way with respect to its handling of, or the results obtained from, such Patent Prosecution. The other party will provide the party taking over Patent Prosecution with such assistance and execute such documents as are necessary to continue or permit such Patent Prosecution.

Appears in 2 contracts

Samples: Collaboration and License Agreement (Lexicon Genetics Inc/Tx), Collaboration and License Agreement (Lexicon Genetics Inc/Tx)

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Secondary Prosecution Rights. If the prosecuting party elects not to continue pursuing Patent Prosecution for an invention within the Program Technology and Program Intellectual Property Inventions (and the other party has joint ownership of or a license under such Program Patent Rights pursuant to this Agreement), then the prosecuting party shall notify the other party in writing of such election at least [**] thirty (30) days prior to the last available date for action to preserve such Program Patent Rights. If such other party elects to continue Patent Prosecution, it may do so at its own expense. The party taking over Patent Prosecution responsibility will not be liable to the other party in any way with respect to its handling of, or the results obtained from, such Patent Prosecution. The other party will provide the party taking over Patent Prosecution with such assistance and execute such documents as are necessary to continue or permit such Patent Prosecution.

Appears in 1 contract

Samples: Collaboration and License Agreement (Lexicon Pharmaceuticals, Inc.)

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