Common use of Improvements and Inventions Clause in Contracts

Improvements and Inventions. 14.1 Any inventions or improvements that are made by or assigned to KREATECH during the term of this AGREEMENT that directly relate to the subject matter claimed in the PATENT RIGHTS and/or to the application of the ULS™ TECHNOLOGY are the sole and entire property of KREATECH. 14.2 Any inventions or improvements that are made during the term of this AGREEMENT that directly relate to the subject matter claimed in the IP RIGHTS/LICENSEE and does not relate in any way to the subject matter claimed in the PATENT RIGHTS and/or the ULS TECHNOLOGY are the sole and entire property of LICENSEE. 14.3 In the event any invention or improvement will lead to a new PATENT RIGHT, KREATECH shall have the right to file for patent protection at its own risk and expense, provided, however, that if KREATECH obtains a patent right in any country, KREATECH, at the request of LICENSEE, shall grant to LICENSEE a license to use the subject matter of such inventions or improvements on additional, commercially reasonable terms in a writing which shall be appended to this AGREEMENT that will be negotiated in good faith by the Parties. In the event any invention or improvement as meant in article 14.2 above will lead to a new IP RIGHT/LICENSEE, LICENSEE shall have the right to seek protection for such right at its own risk and expense.