THE UNDERSTANDING ON INTELLECTUAL PROPERTY Clause Samples

THE UNDERSTANDING ON INTELLECTUAL PROPERTY. 5.1 It is not expected that Intellectual Property shall be generated in the Project. 5.2 In the event Arising IP is conceived or first actually reduced to practice by a UK Partner at the LIGO Laboratory facilities, that Party shall inform the director of the LIGO Laboratory. In such an event a legally binding agreement separate from this MOU may be required. It is, however, expected that this separate agreement shall permit each of the other Parties the right to use such Arising IP for non- commercial research purposes on a royalty free basis. 5.3 All Background IP used or supplied to another Party in connection with the Project shall remain the property of the Party introducing the same and may only be used by the recipient Party / Parties for the purposes of the Project.