Examples of Lead Prosecuting Party in a sentence
Within thirty (30) days following the end of a Calendar Quarter, the Lead Prosecuting Party for any of the Shared Cost Patents shall provide to the other Party an invoice setting forth the costs and expenses (with detail showing the basis for all such charges) of the Prosecution it conducts on such Patents, and the other Party shall reimburse the Lead Prosecuting Party for one-half of such costs and expenses, within sixty (60) days of the invoice.
For each Joint Program Patent that the Parties agree to file, the Lead Prosecuting Party (as defined below) therefor shall direct and control the Prosecution of the Joint Program Patent (in all countries where the Parties agree to file such applications), using outside patent counsel mutually agreeable to the Parties, and in collaboration and consultation with the other Party.
For the avoidance of doubt, the Lead Prosecuting Party will remain responsible for final decisions regarding such Prosecution, after such consultation with such other Party.
Throughout the Prosecution of Ambit Licensed Patents and Program Patents, the Lead Prosecuting Party shall consult with the other Party and seek such other Party’s input regarding such Prosecution efforts.
The Lead Prosecuting Party will keep the other Party reasonably informed with respect to such Prosecution and Maintenance and consult in good faith with such other Party regarding such matters.
Upon such election, the Lead Prosecuting Party will cooperate and assist in transitioning the Prosecution and Maintenance of such Patent to the other Party, and the other Party agrees thereafter to keep the Lead Prosecuting Party reasonably informed with respect to such Prosecution and Maintenance and consult in good faith with the Lead Prosecuting Party regarding such matters.
For the avoidance of doubt both the Lead Prosecuting Party and the other Party shall be both fully and equally considered as the beneficial owners of the rights derived from the Jointly Owned Invention subject to the Joint Patent Application, subject to the opt-out procedure described below.
Ambit Licensed Patents or Program Patents, as applicable, the non-Lead Prosecuting Party shall cooperate fully with the Lead Prosecuting Party and provide reasonable assistance to such efforts, at the Lead Prosecuting Party’s request, including signing any necessary or appropriate documents; providing written and testimonial evidence; and providing the Lead Prosecuting Party with other reasonable assistance as appropriate.
Following such notice, the other Party may elect, upon written notice to the Lead Prosecuting Party, to control the Prosecution and Maintenance of such Patent at its own expense.
If the Lead Prosecuting Party decides to abandon an Other Joint Patent that is not a Licensed Patent, it will provide the other Party with notice at least [***] prior to the date such abandonment would become effective.