Product IP definition
Examples of Product IP in a sentence
Seller has taken all commercially reasonably necessary steps to maintain and enforce the Intellectual Property Rights and to preserve the confidentiality of all trade secrets included in the Product IP, including by requiring all Persons having access thereto to execute binding, written non-disclosure agreements.
To the Knowledge of the Seller, all previously due fees associated with maintaining any of the Seller’s Intellectual Property Rights or other Product IP for which Seller is responsible for filing, prosecution or maintenance have been paid in full in a timely manner to the proper Governmental Authority.
To the Knowledge of Seller, no Product IP is subject to any outstanding consent or Order restricting the use thereof.
Upon the Closing, all of the Product IP shall be available for use by Buyer on terms and conditions substantially identical to those under which Seller owned or used the Product IP immediately prior to the Closing.