IDENTIFIED PRODUCT definition
IDENTIFIED PRODUCT means any product, or derivative thereof, SOLD, used, manufactured or distributed by LICENSEE, which product or derivative is not covered by PATENT RIGHTS but either (a) elicits a positive response in technologies covered by PATENT RIGHTS, or (b) which product or derivative was identified, selected, or found to be useful, in whole or in part, through the use of one or more technologies (including, but not limited to assays, methods, and/or reagents) covered by PATENT RIGHTS. For greater certainty, the parties acknowledge and agree that IDENTIFIED PRODUCTS are not LICENSED PRODUCTS.
IDENTIFIED PRODUCT means any kit, product, compound, biological agent, or other material the manufacture, use or sale of which is not covered by Patent Rights and does not comprise a Biological Product, but which is an agonist, an antagonist, or an inverse agonist that is identified through the use of the Biological Product, Covered Product or the practice of the Patent Rights and sold by Licensee, its Affiliates, Joint Ventures, or sublicensees.
IDENTIFIED PRODUCT will mean any product first identified, selected or determined by COMPANY or an AFFILIATE or SUBLICENSEE to have biological activity or utility by the use of LICENSED PRODUCTS or LICENSED PROCESSES that, at the time of such use, are licensed exclusively to the COMPANY, other than any LICENSED PRODUCT.
Examples of IDENTIFIED PRODUCT in a sentence
For purposes of clarity, these milestones are for development of LICENSED PRODUCTS or LICENSED PROCESSES that are NOT used in conjunction with an IDENTIFIED PRODUCT.
COMPANY shall pay to THE PARTIES the amounts below upon achievement by COMPANY or its AFFILIATES or its SUBLICENSEES of certain milestone events as set forth in the table below for each IDENTIFIED PRODUCT.
SALE or SOLD means the transfer or disposition for value of a LICENSED PRODUCT or IDENTIFIED PRODUCT to a party other than LICENSEE or AFFILIATE.
Prior to the first commercial sale of any LICENSED PRODUCT or IDENTIFIED PRODUCT or first commercial performance of any LICENSED PROCESS, COMPANY shall deliver reports to ▇▇▇▇▇▇▇▇▇ [**], within [**] days of the end of [**], containing information concerning the immediately preceding [**], as further described in Section 5.2.
COMPANY shall report to ▇▇▇▇▇▇▇▇▇ the date of first commercial sale of each LICENSED PRODUCT and each IDENTIFIED PRODUCT and the date of first commercial performance of a LICENSED PROCESS within [**] days of occurrence in each country.
More Definitions of IDENTIFIED PRODUCT
IDENTIFIED PRODUCT means any product that, in whole or in part, is discovered, identified, selected or determined to have utility in whole or in part by the use of LICENSED PRODUCTS and/or LICENSED PROCESSES. For example, IDENTIFIED PRODUCTS shall include, without limitation, a new or previously known product for which LICENSED PRODUCTS and/or LICENSED PROCESSES are used to identify criteria for either selecting or deselecting groups and/or individuals for a particular use of such product, thereby clinically increasing the efficacy and/or safety of the use of such product. By way of further example, IDENTIFIED PRODUCT shall include a drug compound that, through the use of the LICENSED PRODUCT or LICENSED PROCESS, is specifically selected to treat a particular subset of individuals with the drug compound and/or to specifically exclude another subset of individuals from receiving the drug compound.
IDENTIFIED PRODUCT means any product or derivative thereof sold, used, manufactured or distributed by Phytera or a Sublicensee or Partner which product or derivative was identified, selected, or determined to have utility in whole or in part through the use of Patent Rights.
IDENTIFIED PRODUCT means any product that in whole or in part, could not be identified, selected or determined to have biological activity or utility, but for the use or modification of LICENSED PRODUCTS and/or LICENSED PROCESSES. For any IDENTIFIED PRODUCT that also falls within the definition of LICENSED PRODUCT, then such IDENTIFIED PRODUCT shall be deemed a LICENSED PRODUCT for the purposes of the AGREEMENT. An IDENTIFIED PRODUCT will be deemed to be a “modification” of a LICENSED PRODUCT and/or LICENSED PROCESS if it (i) is the result of a chemical modification made to a LICENSED PRODUCT, (ii) is otherwise derived from a chemical synthesis program based upon a LICENSED PRODUCT, or (iii) is based on proprietary structure-function data obtained from a LICENSED PRODUCT and/or LICENSED PROCESS. A product, however, will not be an IDENTIFIED PRODUCT if (i) it is already contained in the chemical library maintained by the COMPANY or by a particular SUBLICENSEE (solely with respect to such SUBLICENSEE) or (ii) merely because the product is, in theory, a synthetically accessible compound from a LICENSED PRODUCT; rather than a product that results from a series of synthetic steps that are actually undertaken by COMPANY or a SUBLICENSEE utilizing a LICENSED PRODUCT or LICENSED PROCESS. Notwithstanding the foregoing, any IDENTIFIED PRODUCT that also falls within the definition of LICENSED PRODUCT shall still be deemed a LICENSED PRODUCT for the purposes of the AGREEMENT and COMPANY shall make all payments due for a LICENSED PRODUCT.
IDENTIFIED PRODUCT will mean (i) any product identified, selected, or determined by COMPANY or an AFFILIATE or SUBLICENSEE to have activity or utility through the use of LICENSED PRODUCTS, LICENSED PROCESSES, and/or TANGIBLE PROPERTY, or (ii) any product identified, selected, or determined to have activity or utility on a target, including but not limited to cellular receptors, transcription factors, and autocrine/paracrine signaling molecules, identified by COMPANY or AFFILIATE or SUBLICENSEE through the use of LICENSED PRODUCTS, LICENSED PROCESSES, and/or TANGIBLE PROPERTY. For any IDENTIFIED PRODUCT which also falls within the definition of LICENSED PRODUCT, such IDENTIFIED PRODUCT will be deemed a LICENSED PRODUCT for the purpose of this Agreement.
IDENTIFIED PRODUCT means any product that in whole or in part is created, developed, discovered, identified or selected by the use of LICENSED PROCESS(ES) by the COMPANY or AFFILIATES or SUBLICENSEES. Notwithstanding the foregoing, any IDENTIFIED PRODUCT that also falls within the definition of LICENSED PRODUCT shall still be deemed a LICENSED PRODUCT for the purposes of the AGREEMENT and COMPANY shall make all payments due for a LICENSED PRODUCT
IDENTIFIED PRODUCT means a Product the identification or development of which materially uses the Data.
IDENTIFIED PRODUCT means a Product that has prophylactic, therapeutic, diagnostic or prognostic value and is identified, created, discovered or developed as a result of: (a) practicing the Licensed Method, (b) use of Patent Products, or (c) use or practicing of any Product, process or method anywhere in the world covered by a Valid Claim within the Patent Rights in any one country (regardless of whether such use or practice occurs in such country); except, in each case, where such practice or use does not constitute a material step in, and does not materially contribute to, such identification, creation, discovery or development. “Identified Product” excludes any Products that are Patent Products.