Acquired IP definition
Examples of Acquired IP in a sentence
The Acquired IP shall include, without limitation, the Intellectual Property identified in Schedule 3.13 and any Acquired IP that is identified in Schedule 2.1.
The Acquired IP constitutes all of the Seller Intellectual Property.
For the avoidance of doubt, as between the parties, any new versions, releases, modifications, enhancements, or improvements of software that form part of the Acquired IP that are developed following the Closing and all Intellectual Property thereto (“Acquired IP Improvements”), shall be the sole and exclusive property of Buyer, regardless of who authors, invents, creates, or develops the same, and Sellers hereby assign to Buyer all right, title, and interest in and to the Acquired IP Improvements.
For the avoidance of doubt, any such Patent is part of the other Party’s Acquired IP.
Seller has at all times carried on its business and affairs related to the Acquired IP in all material respects in accordance with its organizational documents and all applicable Legal Requirements, and has not breached or violated, and is not in breach or violation, of its organizational documents or applicable Legal Requirements in a manner which may materially and adversely affect Seller in connection with the Acquired IP.