Patent Rights definition
Examples of Patent Rights in a sentence
Royalties on Net Sales shall be due on a Licensed Product-by-Licensed Product and country-by-country until the later of: (a) the last to expire of the Licensed Patent Rights that cover the applicable Licensed Product in the country in which the Licensed Product is made or Sold; and (b) the [***] of the First Commercial Sale of the applicable Licensed Product in the country of Sale (the period ending on the later of (a) and (b), the “Royalty Term”).
SLB shall not compromise or settle such litigation in a manner that may adversely affect the validity, enforceability or scope of the Licensed Patent Rights without the prior written consent of Biomica, which consent shall not be unreasonably withheld or delayed.
SLB will be responsible, at its expense, for the filing, prosecution, protection, defense and maintenance of all Licensed Patent Rights, by cooperation by SLB’s intellectual property department with patent counsel selected by SLB, provided that Biomica shall be notified in advance of the identity of such patent counsel and shall have the right to object on reasonable grounds.
Biomica shall not compromise or settle such litigation in a manner that may adversely affect the validity, enforceability or scope of the Licensed Patent Rights without the prior written consent of SLB, which consent shall not be unreasonably withheld or delayed.
Except as expressly provided herein, nothing in this Agreement will be construed to confer any ownership interest, license or other rights upon a Party by implication, estoppel or otherwise as to any technology, intellectual property rights, products or biological materials of the other Party, or any other entity, regardless of whether such technology, intellectual property rights, products or biological materials are related to any Licensed Patent Rights or Technology Transfer Materials.