Commercialize Sample Clauses
The 'Commercialize' clause defines the rights and obligations related to the use, development, and sale of a product, service, or intellectual property for commercial purposes. Typically, this clause outlines who has the authority to bring a product to market, under what conditions commercialization can occur, and how any resulting revenues or benefits are to be shared among the parties. For example, it may specify whether a licensee can sell products derived from licensed technology or if prior approval is needed from the licensor. The core function of this clause is to clarify the scope and limitations of commercial activities, thereby preventing disputes over unauthorized sales or use and ensuring that all parties understand their roles in monetizing the subject matter.
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Commercialize. Commercialize or Commercializing means to market, promote, distribute, offer for sale, sell, have sold, import, export or otherwise commercialize a product, to conduct activities, other than Development and Manufacturing, in preparation for the foregoing activities, including obtaining Price Approval, and to conduct post-approval studies. When used as a noun, “Commercialization” means any and all activities involved in Commercializing.