Common use of Furthermore Clause in Contracts

Furthermore. The UPMC and the CNRS are hereinafter referred to jointly as the “ESTABLISHMENTS”. The UPMC, the CNRS and the COMPANY are hereinafter jointly referred to as “PARTIES” and individually as “PARTY”. In the context of research within the LABORATORY, ▇▇▇▇ ▇▇▇▇▇▇, UPMC agent and ▇▇ ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ of the COMPANY have developed an invention relating to use of phytoecdysteroids in the preparation of a composition for action on metabolic syndrome. This invention being protected by industrial property, a French patent application under NO. 0759478 was filed as a precaution on 30 November 2007 jointly in the names of both the COMPANY and the UPMC. Under this agreement, the UPMC and the COMPANY wish to formalise the co-ownership between the PARTIES on the patent application mentioned above as well as its extensions and determining the rights and obligations of each PARTY, particularly in regards to the use of the invention referred to above. The COMPANY made it known in a letter dated 26 June 2008 sent for the attention of the UPMC, on behalf of the ESTABLISHMENTS, that it wants to qualify for exclusive operation of the PATENTS as defined below, in the area of nutrition and herbal medication. The PARTIES have agreed to define the terms of this exclusive exploitation by separate agreements (hereinafter “LICENSE AGREEMENT”) signed concomitantly with this contract. Preliminary Article - DEFINITIONS CONFIDENTIAL INFORMATION, means any confidential information or any protected information not yet published, belonging to PARTIES or one of the PARTIES, relating to the invention protected by PATENTS, or relating to KNOW-HOW, whether its form is written, graphic, verbal, or in any other form. COSTS OF INDUSTRIAL PROPERTY, means the costs incurred for- the preparation process, of filing, obtaining, extension, issue and maintenance of the PATENTS, to defend the PATENTS before any Patent Office and in particular for appeal proceedings, interference, opposition, reviews or reissues. The COSTS OF INDUSTRIAL PROPERTY do not include any costs incurred due to infringement procedures. DOMAIN, means the area of food and phytotherapeutics medicine EFFECTIVE DATE, refers to the date of filing the French application patent under no. 0759478, i.e., 30 November 2007. INVENTORS, refers to ▇▇▇▇ ▇▇▇▇▇▇ and ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇.