Common use of Waiver of Right in the Jointly-owned Intellectual Property Rights Clause in Contracts

Waiver of Right in the Jointly-owned Intellectual Property Rights. A Party who desires to stop contributing Patent Expenses necessary to maintain any Jointly-owned Intellectual Property Rights shall provide a sixty-day (60-day) prior written notice to the other Party unless otherwise agreed by the Parties. Upon the end of such sixty-day (60-day) period or other period agreed by the Parties, the ownership interest of such Party in such Jointly-owned Intellectual Property Rights shall be assigned to the other Party paying such Patent Expenses for the Intellectual Property Rights and such Party shall execute any and all documentation necessary to perfect the ownership of the other Party.

Waiver of Right in the Jointly-owned Intellectual Property Rights. A Party who desires to stop contributing Patent Expenses any fees necessary to maintain any Jointly-jointly- owned Intellectual Property Rights shall provide a sixty-day (60-day) prior written notice to the other Party unless otherwise agreed by the Parties. Upon the end of such sixty-day (60-day) period or other period agreed by the Parties, the ownership interest of such Party in such Jointlyjointly-owned Intellectual Property Rights shall be assigned to the other Party paying such Patent Expenses the fees for the Intellectual Property Rights and such Party shall execute any and all documentation necessary to perfect the ownership of the other PartyRights.