Common use of Establishment; Responsibilities Clause in Contracts

Establishment; Responsibilities. Within 30 days after the Effective Date, the Parties will establish a joint, co-chaired joint management committee (“Management Committee”) that will be responsible for the overall strategic alignment and direction with respect to the Collaboration, including the following: (a) creating and approving the Development Plan for each Developed Product and each Commercialization Project; (b) coordinating and facilitating the performance of each Development Plan; (c) facilitating the identification, protection and management of Intellectual Property created pursuant to the Collaboration; (d) administering and managing the Collaboration in accordance with the Collaboration Budget; (e) performing such other responsibilities as may be required of the Management Committee pursuant to this Agreement; and (f) performing such other responsibilities as may be agreed upon by the Parties.