Common use of Developed Technology Clause in Contracts

Developed Technology. The Parties agree that there is no intent to conceive, create, develop or otherwise reduce to practice any Intellectual Property Rights under this Agreement. In the event that INNO or any of its Affiliates (or any employees, contractors, agents and subcontractors of any of the foregoing) conceives, creates, develops or otherwise reduces to practice in connection with its activities under this Agreement, regardless of whether such conception, creation, Development or reduction to practice is done independently by or on behalf of INNO or jointly with ASCENTAGE or any Third Parties: any improvements, derivatives or other modifications (including any new Patents) solely to such Licensed Patents Rights for the Licensed Product in the Territory (“Developed Technology”), INNO shall promptly notify and disclose to ASCENTAGE such Developed Technology after the conception, creation, reduction to practice or discovery thereof. The Parties hereby agree, to the fullest extent permitted by Applicable Law, as and between the Parties, ASCENTAGE shall be the sole and exclusive owner of all right, title and interest in and to the Developed Technology throughout the world. To the extent necessary for INNO to perform its obligation under this Agreement, INNO shall have the right to use the Developed Technology in connection with its performance of this Agreement at no additional cost to INNO.