Key Patents definition

Key Patents means, collectively, (i) U.S. Patent No. 6,028,222 (Canadian patent 2,233,924), which covers the formulation of the Key Product and formulations made by that process and (ii) U.S. Patent No. 6,992,218 (Canadian patent 2,415,403), which covers the process used to manufacture the Key Product.

Key Patents has the meaning set forth in Section 4.7(a) of this Agreement.

Key Patents means one or more patents or applications within the Jointly Owned Patents that claim inventions material to the manufacture, use, operation or other aspect of such COMPANY Product, and that [***]. MAYO and VGL (to the extent either such party holds any rights in such Key Patent), shall assign all right, title and interest in and to such Key Patent to COMPANY, subject to COMPANY’s continuing obligations to pay royalties on sales of COMPANY Products covered by a Valid Claim within such Key Patent as if such Key Patent were still a Jointly Owned Patent, in accordance with the terms and conditions of this Agreement. COMPANY shall grant to MAYO and/or VGL, whichever has assigned its interest therein to COMPANY, a fully paid up, fully sublicensable right and license under such Key Patent to make, have made, use, offer for sale, sell and import products and services outside the Field. The Key Patent shall remain subject to the terms and conditions of this Agreement, including FOUNDERS’ retained rights to use the inventions claimed therein internally as provided in Section 2.03.

Examples of Key Patents in a sentence

• Prior to the submission of an IDE for a COMPANY Product, the parties will meet to discuss whether any Jointly Owned Patents are Key Patent(s) for such COMPANY Product.

• All of the Key Patents are in full force and effect and have not lapsed, expired or otherwise terminated.

• To the knowledge of Dermavant, each claim that has been issued or granted by a governmental patent office included in the Key Patents is valid and enforceable.

• Subsequent to the issuance of the Key Patents, none of Dermavant or any other owner of any Key Patent has filed any disclaimer (other than a terminal disclaimer) or made or permitted any other voluntary reduction in the scope of such Key Patent.

• In the event Company elects not to resolve such Product Infringement or such possibility of Product Infringement, then Licensee shall have the right, but not the obligation, to commence a suit or take action to enforce the applicable Key Patents or Joint Patents with respect to such Product Infringement in the Territory.

• BioStar shall apply for and seek prompt issuance of, and upon issuance, maintain all of the Key Patents and all substitutions, extensions, reissues, renewals, divisions, continuations or continuations-in-part thereof or therefor in the Territory.

• Key Patents The search identified 12 patents in the name of Schering that claim a form of PEG interferon alfa.

• In such event, Prestwick shall have the initial right (but not the obligation) to enforce such Key Patents with respect to such Infringing Product, or to defend any declaratory judgment action with respect thereto at its sole expense (an “Enforcement Action”).

• For the avoidance of doubt, Licensee shall have no rights under this Section 10.6 with respect to Company Patents other than those rights expressly set forth in this Section 10.6 regarding Key Patents.

• Key Patents & Patent ApplicationsAs of the date of this Offering Memorandum, the Company’s intellectual property holdings are related to the production and use of BPS-001 as a treatment for a variety of diseases.

More Definitions of Key Patents

Key Patents means the Patents listed on Schedule 3 to the Disclosure Letter.

Key Patents means one or more patents or applications within the Jointly Owned Patents that claim inventions material to the manufacture, use, operation or other aspect of such COMPANY Product, and that are not then licensed to any third party. MAYO and VGL (to the extent either such party holds any rights in such Key Patent), shall assign all right, title and interest in and to such Key Patent to COMPANY, subject to COMPANY’s continuing obligations to pay royalties on sales of COMPANY Products covered by a Valid Claim within such Key Patent as if such Key Patent were still a Jointly Owned Patent, in accordance with the terms and conditions of this Agreement. COMPANY shall grant to MAYO and/or VGL, whichever has assigned its interest therein to COMPANY, a fully paid up, fully sublicensable right and license under such Key Patent to make, have made, use, offer for sale, sell and import products and services outside the Field. The Key Patent shall remain subject to the terms and conditions of this Agreement, including FOUNDERS’ retained rights to use the inventions claimed therein internally as provided in Section 2.03.

Key Patents means the Company Patents Controlled by the Company that are set forth in Exhibit A.

Key Patents means the following three (3) Japanese patent applications of BioStar to be filed and already filed and any patent which may be granted under such applications: (A) Method and devices for [ * ] (BioStar's file reference: [ * ]; (B) [ * ] using enzyme-labeled reagents [ * ]; (C) Devices and methods for [ * ] based upon [ * ].

Key Patents shall have the meaning set forth in Section 4.13(b).