Examples of Related Patent in a sentence
Funded Institution agrees to promptly notify LLS in writing of its decision to file for patent or other legal protection of Funded IP and, upon written request to Funded Institution, Funded Institution shall provide LLS with a list of Related Patent Rights.
Should Funded Institution choose not to pursue Related Patent Rights, it must promptly notify LLS and provide LLS with the opportunity to do so, in the Funded Institution’s name, at least thirty (30) days (or such other mutually-agreed-upon timeframe) before any deadline for filing for, or maintaining, any such Related Patent Rights.
Funded Institution agrees that if the audit uncovers a shortfall in the amounts paid to LLS of greater than 5% between what Funded Institution paid to LLS and what Funded Institution owes LLS for the Commercialization of Funded IP or Related Patent Rights, then Funded Institution must pay LLS within ten (10) days of when the audit is completed (a) all amounts necessary to cover the shortfall; and (b) all costs that LLS incurs in conducting the audit.
All patent and other expenses for obtaining and maintaining Related Patent Rights will be borne by Funded Institution.
Funded Institution agrees to exert its best efforts to (a) develop and Commercialize the Funded IP and Related Patent Rights, consistent with Funded Institution’s standard practices; and (b) to provide all necessary assistance and cooperation to LLS when LLS chooses to file for Related Patent Rights as described in Sections 2 and 4 in this IP and Revenue Sharing Agreement.