Licensed IP definition
Examples of Licensed IP in a sentence
If ▇▇▇▇▇ wishes to subject any Product Patent within the Licensed IP, as applicable, to UPC Opt-Out or UPC Opt-In, ▇▇▇▇▇ shall so notify Aktis, and, at ▇▇▇▇▇’▇ request, Aktis shall undertake, or shall cause to be undertaken, all actions as may be necessary or useful to obtain such UPC Opt-Out or UPC Opt-In, as applicable, including providing all necessary documents and making all necessary submissions.
Nothing contained in this Agreement shall be construed as conferring any rights by implication, estoppel or otherwise, under any Intellectual Property other than the rights expressly granted in this Agreement with respect to the Medtronic Licensed IP or SplitCo Licensed IP.
In no event shall either Party admit the invalidity or unenforceability of, or after exercising its right to bring and control an action under this Section 9.6.2, fail to defend the validity or enforceability of any Product Patent (or Patent within the Licensed IP) without the other Party’s prior written consent, which shall not be unreasonably withheld, conditioned or delayed.
Each Licensee hereby acknowledges that, as between the Parties, (i) Medtronic and the other Medtronic Licensors are the owners of all right, title and interest in and to the Medtronic Licensed IP and (ii) SplitCo and the other applicable members of the SplitCo Group are the owner of all right, title and interest in and to the SplitCo Licensed IP.
Any sublicensee of Licensees must be bound in writing to terms and conditions no less restrictive on the sublicensee and no less protective of the Medtronic Licensed IP or SplitCo Licensed IP, as applicable, than those contained in this Agreement and Licensees will procure that each of their sublicensees complies with the terms of its respective sublicense.