Common use of Where Background Clause in Contracts

Where Background. Intellectual Property has already been protected, Prostate Cancer UK does not require ownership of that Intellectual Property to change. However, if this Project adds significant commercial value to the Background Intellectual Property provided by the Principal Investigator, the Research Institution or a third party, Prostate Cancer UK shall enter into discussions with the relevant parties (normally the owner of the Background Intellectual Property, the Research Institution (if not the owner of the Background Intellectual Property), and the Principal Investigator) regarding the exploitation plan for that Intellectual Property. Such discussions shall include negotiations regarding revenue share, royalty payments or another form of reimbursement to Prostate Cancer UK in acknowledgement of Prostate Cancer UK’s contribution towards the development of the asset, and appropriate to the level of investment from Prostate Cancer UK.