Jointly Developed definition
Examples of Jointly Developed in a sentence
Except as set forth in Section 4(c)(iii) below, if either party desires to license any of its rights to the Jointly Developed Intellectual Property herein to a third party, it shall obtain the prior written consent of the other party hereto.
Each party shall have the right to apply, in both parties’ names, for Intellectual Property protection in the Jointly Developed Intellectual Property.
All expenses incurred in obtaining and maintaining Intellectual Property protection in the Jointly Developed Intellectual Property shall be equally shared by the parties.
The parties shall agree on the proper way and strategy for proceeding with all protection of the Jointly Developed Intellectual Property in accordance with the R&D Procedures.
For the avoidance of doubt, all rights of BGM in any Jointly Developed IP shall remain the sole and exclusive property of BGM, and ACSB shall not have any license or other rights thereto.
In addition, during the term of the Research Project, any Jointly Developed Materials will not be used by the parties other than in the Research Project.
The issuance of a US or EU patent covering a Subject Product within the Field of Interest described in paragraph 7 of this Licensing Addendum that has been developed using any Jointly Developed IP or ACSB Pre-Existing IP.
Each Party shall give the other Party prompt notice of the development of any Jointly Developed IP.
If both parties agree to initiate appropriate action to cause any infringement of Jointly Developed Intellectual Property to cease, including if necessary bringing suit to enjoin such infringement, the parties shall share the expense and split any damages or other court compensation equally, or in some other proportion to be agreed by the parties prior to initiating an action.
Further, in the event of such termination, BioNumerik (and its designated Affiliates and sublicensees) will be granted a non-exclusive, perpetual, royalty-free paid-up license under Takeda Developments and Improvements and Jointly Developed Intellectual Property, to make, have made, use, and sell the Product in such terminated portion of the Territory.