Common use of Work Products Owned by Group Companies Clause in Contracts

Work Products Owned by Group Companies. All of personnel of any Group Company, including employees, agents, consultants, and contractors, who have contributed to or participated in the conception and development of the material Proprietary Assets on behalf of such Group Company with respect to the business of such Group Company, either (i) have been a party to a “work-for-hire” arrangement or similar agreement with such Group Company, in accordance with applicable Law, that has accorded such Group Company full, effective, exclusive, and original ownership of all tangible and intangible property and related rights thereby arising, or (ii) have executed appropriate instruments of assignment in favor of such Group Company that have conveyed to such Group Company full, effective, and exclusive ownership of all tangible and intangible property and related rights thereby arising.