Common use of Use or Incorporation of Inventions Clause in Contracts

Use or Incorporation of Inventions. If, in the course of the Relationship, Employee uses or incorporates into a product, service, process, or machine any Invention in which Employee has an interest, Employee will promptly so inform the Company in writing. Whether or not Employee gives such notice, Employee hereby irrevocably grants to the Company a nonexclusive, fully paid-up, royalty-free, assumable, perpetual, worldwide license, with right to transfer and to sublicense, to practice and exploit such Invention and to make, have made, copy, modify, make derivative works of, use, sell, import, and otherwise distribute such Invention under all applicable intellectual property laws without restriction of any kind. To the extent that any third parties have rights in any Invention in which Employee has an interest, Employee hereby represents and warrants that such third party or parties has/have validly and irrevocably granted to Employee the right to grant the foregoing license.