Common use of Use and Limitation on Use Clause in Contracts

Use and Limitation on Use. Licensee acknowledges and agrees she or he will not acquire any interest in the IP, other than the right to utilize disclosed IP in operating the License’s business during the term hereof and that use or duplication of any IP in any other business would constitute an unfair method of competition. Licensee further acknowledges and agrees that the IP is proprietary, including trade information of the Licensor and is disclosed to Licensee solely on the condition that Licensee agrees, and Licensee does hereby agree, that Licensee: (1) will not use the IP in any other business or capacity; (2) will not make unauthorized copies of any portion of the IP disclosed in written or other tangible forms; and (3) will adopt and implement all reasonable procedures that Licensor prescribes to prevent unauthorized use or disclosure of the IP.