Executive Invention Clause Samples
The Executive Invention clause defines the ownership and handling of inventions or intellectual property created by an executive during their employment. Typically, this clause stipulates that any inventions, discoveries, or works developed by the executive that relate to the company's business or arise from the use of company resources are the property of the employer. For example, if an executive invents a new product or process while working for the company, the rights to that invention would belong to the company. The core function of this clause is to ensure that the company retains control over valuable intellectual property developed by its executives, thereby protecting its business interests and preventing disputes over ownership.
Executive Invention. Executive understands that paragraph (b)(i) of Section 3 of this Agreement regarding the Company’s ownership of Intellectual Property does not apply to any invention for which no equipment, supplies, facilities or trade secret information of the Company were used and which was developed entirely on Executive’s own time, unless (i) the invention relates to the business of the Company or to the Company’s actual or demonstrably anticipated research or development or (ii) the invention results from any work performed by Executive for the Company.
Executive Invention. Employee understands that paragraph (b)(i) of this Section regarding the Company's or CompleTel Europe ownership of Intellectual Property does not apply to any invention for which no equipment, supplies, facilities or trade secret information of the Company or CompleTel Europe were used and which was developed entirely on Employee's own time, unless (i) the invention relates to the business of the Company or CompleTel Europe or to their actual or demonstrably anticipated research or development or (ii) the invention results from any work performed by Employee for the Company or CompleTel Europe.
Executive Invention. The Executive and the Company understand and agree that Section 7(a) regarding the Company's ownership of Intellectual Property does not apply to any invention for which no equipment, supplies, facilities or trade secret information of the Company or any of its subsidiaries were used and which was developed entirely on the Executive's own time, unless (i) the invention relates to the business of the Company or any of its subsidiaries or to their actual or demonstrable anticipated research or development or (ii) the invention results from any work performed by the Executive for the Company or any of its subsidiaries.