BioCurex Clause Samples
The 'BioCurex' clause establishes specific terms and conditions related to the use, licensing, or distribution of products, technologies, or intellectual property associated with BioCurex. This clause may outline the rights and obligations of the parties regarding BioCurex-branded materials, such as restrictions on use, requirements for quality control, or provisions for royalties and reporting. By clearly defining the parameters for handling BioCurex assets, the clause helps prevent disputes and ensures that both parties understand their responsibilities, thereby protecting proprietary interests and maintaining compliance with agreed standards.
BioCurex and Inverness shall have the right to forfeit ownership of each Joint Invention by written notice to the other Party, in which case such Joint Invention shall be assigned to the other Party within thirty days after the date of such notice, and costs incurred with respect to such Joint Invention following such assignment shall be borne solely by the assignee.
BioCurex shall cause its accounting firm to retain all financial information subject to review under this Section in strict confidence; provided, however, that Inverness shall have the right to require that such accounting firm, prior to conducting such audit, enter into an appropriate non-disclosure agreement with Inverness regarding such financial information. The accounting firm shall disclose to BioCurex whether the reports are correct or not and the amount of any discrepancy. In case of discrepancy, if Inverness fails to remedy such discrepancy within sixty (60) days after written notice thereof, then the accounting firm will provide BioCurex with all the information in its possession related to the discrepancy.
BioCurex shall retain the right to develop, manufacture, sell and license the Licensed Materials and Technology for use outside of the Field in the Territory.