Intellectual Property Sample Clauses

Intellectual Property. The Company and the Subsidiaries have, or have rights to use, all patents, patent applications, trademarks, trademark applications, service marks, trade names, trade secrets, inventions, copyrights, licenses and other intellectual property rights and similar rights necessary or required for use in connection with their respective businesses as described in the SEC Reports and which the failure to so have could have a Material Adverse Effect (collectively, the “Intellectual Property Rights”). None of, and neither the Company nor any Subsidiary has received a notice (written or otherwise) that any of, the Intellectual Property Rights has expired, terminated or been abandoned, or is expected to expire or terminate or be abandoned, within two (2) years from the date of this Agreement. Neither the Company nor any Subsidiary has received, since the date of the latest audited financial statements included within the SEC Reports, a written notice of a claim or otherwise has any knowledge that the Intellectual Property Rights violate or infringe upon the rights of any Person, except as could not have or reasonably be expected to not have a Material Adverse Effect. To the knowledge of the Company, all such Intellectual Property Rights are enforceable and there is no existing infringement by another Person of any of the Intellectual Property Rights. The Company and its Subsidiaries have taken reasonable security measures to protect the secrecy, confidentiality and value of all of their intellectual properties, except where failure to do so could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

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Intellectual Property. 9.1. Any information, contents, materials, documents, details, graphics, files, data, text, images, digital pictures, or any visual being displayed in the EHSAN AUCTIONEERS SDN. BHD. website shall not be used or published either by electronic, mechanical, photocopying, recording or otherwise without the permission from EHSAN AUCTIONEERS SDN. BHD. website. 9.2. In the event of any infringement of intellectual property rights under the Terms and Conditions herein, EHSAN AUCTIONEERS SDN. BHD. website may use any available legal remedies which may include the demand for actual or statutory damages, solicitors’ fees and injunctive relief.

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Intellectual Property. The Company and the Subsidiaries have, or have rights to use, all patents, patent applications, trademarks, trademark applications, service marks, trade names, trade secrets, inventions, copyrights, licenses and other intellectual property rights and similar rights necessary or required for use in connection with their respective businesses as described in the SEC Reports and which the failure to so have could have a Material Adverse Effect (collectively, the “Intellectual Property Rights”). None of, and neither the Company nor any Subsidiary has received a notice (written or otherwise) that any of, the Intellectual Property Rights has expired, terminated or been abandoned, or is expected to expire or terminate or be abandoned, within two (2) years from the date of this Agreement except as would not reasonably be expected to have a Material Adverse Effect. Neither the Company nor any Subsidiary has received, since the date of the latest audited financial statements included within the SEC Reports, a written notice of a claim or otherwise has any knowledge that the Intellectual Property Rights violate or infringe upon the rights of any Person, except as could not have or reasonably be expected to not have a Material Adverse Effect. To the knowledge of the Company, all such Intellectual Property Rights are enforceable and there is no existing infringement by another Person of any of the Intellectual Property Rights. The Company and its Subsidiaries have taken reasonable security measures to protect the secrecy, confidentiality and value of all of their intellectual properties, except where failure to do so could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect.

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Intellectual Property: Everything you need to know

Intellectual Property (IP) is any product, work, or invention from human creativity, such as artistic works, symbols, designs, and images used in business. Intellectual Property is protected by the law in many forms.
Patents, trademarks, and copyrights enable individuals to gain recognition along with financial benefits from their creations. The IP system aims to create a balance between the interests of innovators and the public to create an environment where innovations can prosper.
Intellectual property rights are the rights given to the creators for their innovation. These rights remain exclusive for a certain period. When someone creates anything unique, the creator can claim ownership of their work with these rights. The owner of this content/product will have complete control over its usage.

Types of intellectual property rights
Intellectual Property on the Balance Sheet
Example of Intellectual Property in Film

Types of intellectual property rights

There are several types of Intellectual property rights. Some of them are:

Copyrights

The creativity of artists and writers like films, books, paintings, songs, and so on is guarded by these copyrights. This protection will live on for another 50 years, even after the death of the creator.

Copyrights secure the creator's works of authorship along with their rights to distribution, performance, public display, reproduction, and so on. The owners of these rights can deploy their works in the free market as property rights. The exclusive right to distribution that is provided by copyrights is particularly significant in the film industry.

In the filmmaking process, the distribution deals aid the finances of production by selling the right to distribute their movie. The distributors purchase these rights with an agreement to pay after the film is made.

This agreement is used to secure loans that help produce the movie. After the film is completed, an amount from distributors is used to pay these loans. Without copyrights, the producer will not have anything to offer the distributors, and thus, the film suffers financially. Copyrights also help the music and sound system that appear in movies. It ensures all the artists involved will be rewarded with fame and money for their hard work.

Trademarks

To distinguish the goods from different enterprises, trademarks are used. Trademarks are words, phrases, symbols or designs that distinguish the source of goods from another. Typically businesses trademark names, logos, or company taglines. For example, Tiffany & Co. has trademarked the color Tiffany Blue to be used on their promotional materials. Coca-cola has even trademarked the shape of their bottles.

We can also see these trademarks in the introduction of films specifying that the product is the work of a particular artist or director. Many famous movies such as Harry Potter, James Bond, and Lord of rings use trademarks to protect their titles and characters.

By featuring a reputed brand in the films, the producer can cash its popularity and increases relatability with the audience. Many movies and TV show characters are recognizable by a particular brand name. For example, The Yakult brand gains its popularity among many youngsters from the film To All The Boys I've Loved Before when Peret shows love for Lara Jean by bringing her favorite Yakult's.

Additionally, by marketing trademark-protected products, such as Yakult in our example, the producers can acquire another source of the avenue from these brands to build the finances of the film.

Patents

A patent is a special right granted to the creator, who will have complete rights over the content and can control who and if their content can be used or not. The patent owner will publish the technical data about the invention online in exchange for this right.

The patented technologies enhanced the film industry by providing a foundation on which the advertisements, along with the viewer's satisfaction, are based. For example, the implementation of Dolby Surround Sound in the year 1980 allowed the music composers and directors to develop rich sonic tapestries.

Trade Secrets

A trade secret is any confidential corporate information that gives any business a competitive advantage. Trade secrets can be as straightforward as Coca-Cola’s secret formula to distribution methods from Amazon. Other forms of trade secrets include: ad strategies, sales methods, lists of consumers, lists of vendors, production processes, and algorithms.

Trade secrets must be designated before they can be leaked, a person cannot state that they have a trade secret. Corporations typically use nondisclosure agreements or specifically state trade secrets in contracts when dealing with internal employees or partner companies.

Franchises

A franchise is a license that an individual, party, or company (franchisee) purchases that allows them to use another company’s (franchisor) name, trademark, processes, and company processes.

The franchisee is typically an entrepreneur who operates a store or franchise under the franchisor's name. The franchisor is typically paid an upfront fee as well as ongoing licensing fees. McDonald’s Corporation is a famous example of a franchise business.

Intellectual Property on the Balance Sheet

Many types of intellectual property are not listed on the balance sheet since it isn’t clear what the value of each asset is. Sometimes intangible assets such as patents are listed as property since they have an expiration date. These assets also have a value that is decreased over time by amortization.

Example of Intellectual Property in Film

Intellectual Property rights play the most critical role in the film industry when it comes to securing funds. The producer has to maintain clear documentation of all the IP rights to prevent problems in the sales of the film. The agreements with the scriptwriter, actors, and directors will enhance the financial requirements of the movie. Based on the jurisdiction, the director can also be identified as the joint owner, author, or story writer of the film.

Similarly, the producer has to negotiate an agreement with the actors. The legal status of the actors differs in countries. Some countries offer the actors related rights, whereas other countries hire actors to work as employees on the sets. Once the film is ready to be released and open for public viewing, the significance of IP rights is highlighted again.

To secure financing for a movie, Intellectual property rights play a crucial role. In a nutshell, IP rights are the most valuable asset to filmmakers that can be secured through copyrights, patents, trademarks, and industrial properties. They must be withheld despite challenges, as movie components like songs, scripts, and characters work, face the issue of ownership.

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Intellectual Property. (a) Such Grantor (either itself or through licensees) shall, in the exercise of its reasonable business judgment, taking into account the Secured Parties’ interests under this Agreement, (i) continue to use each owned Trademark material to its business, (ii) maintain commercially reasonable quality of products and services offered under such Trademarks and take all necessary steps to ensure that all licensed users of such Trademarks comply with such Grantor’s quality control requirements and maintain reasonable quality, (iii) not adopt or use any xxxx which is confusingly similar or a colorable imitation of such Trademarks unless the Administrative Agent, for the ratable benefit of the Secured Parties, shall obtain a perfected security interest in such xxxx pursuant to this Agreement and an Intellectual Property Security Agreement, and (iv) not (and not permit any licensee or sublicensee thereof to) do any act or knowingly omit to do any act whereby such Trademark may become invalidated or impaired in any way. (b) Such Grantor (either itself or through licensees), subject to the exercise of its reasonable business judgment, taking into account the Secured Parties’ interests under this Agreement, shall not do any act, or omit to do any act, whereby any Patent owned by such Grantor material to its business may become forfeited, abandoned or dedicated to the public. (c) Such Grantor (either itself or through licensees), subject to the exercise of its reasonable business judgment, taking into account the Secured Parties’ interests under this Agreement, shall not (and shall not permit any licensee or sublicensee thereof to) do any act or knowingly omit to do any act whereby any material portion of Copyrights owned by such Grantor and material to its business may become invalidated or otherwise impaired. Such Grantor shall not (either itself or through licensees) do any act whereby any material portion of such Copyrights may fall into the public domain. (d) Such Grantor shall notify the Administrative Agent promptly if it knows or suspects that any application or registration relating to any Material Intellectual Property owned by such Grantor may become forfeited, abandoned or dedicated to the public, or of any adverse determination (including the institution of, or any such determination in, any proceeding in the United States Patent and Trademark Office, the United States Copyright Office or any court or tribunal in any country) regarding such Grantor’s owner...

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Intellectual Property. Except as described in the Registration Statement, Prospectus or Disclosure Package or as would not reasonably be expected to, individually or in the aggregate, result in a Material Adverse Effect, (i) the Company and its Subsidiaries own or possess, or can promptly acquire on reasonable terms, ownership, licenses or other legal rights to use all patents, trademarks, service marks, tradenames, copyrights, trade secrets or other proprietary rights (collectively, “Intellectual Property Rights”) necessary for their respective businesses as now conducted, (ii) the Company believes it and its Subsidiaries have taken all commercially reasonable steps necessary to establish and preserve their respective ownership of all Intellectual Property Rights owned by the Company or any of its Subsidiaries that is necessary for their respective businesses as now conducted, (iii) to the knowledge of the Company, there is no infringement, misappropriation or other violation of the Intellectual Property Rights owned by the Company or any of its Subsidiaries by any third party, (iv) to the knowledge of the Company, the present business, activities and products of the Company and its Subsidiaries do not infringe, misappropriate or otherwise violate any Intellectual Property Rights of any other person or entity, (v) there is no proceeding pending or, to the knowledge of the Company, threatened in writing, charging the Company or any of its Subsidiaries with infringement, misappropriation or other violation of any Intellectual Property Rights adversely held by a third party which has been filed, (vi) no proceedings have been instituted or are pending or, to the knowledge of the Company, threatened in writing, which challenge the rights of the Company or any of its Subsidiaries to use the Intellectual Property Rights owned by or licensed to the Company or its Subsidiaries, and (vii) the Intellectual Property Rights owned by and, to the knowledge of the Company, licensed, to the Company and its Subsidiaries, has not been adjudged invalid or unenforceable in whole or in part and there is no pending or, to the knowledge of the Company, threatened in writing proceeding by others challenging the validity or scope of any such Intellectual Property Rights, and the Company is unaware of any facts which are reasonably likely to form a basis for any such claim.

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Intellectual Property. Sterling and each of its Subsidiaries owns, or is licensed to use (in each case, free and clear of any material Liens), all Intellectual Property necessary for the conduct of its business as currently conducted. Except as would not reasonably be expected, either individually or in the aggregate, to have a Material Adverse Effect on Sterling, (a) (i) to the knowledge of Sterling, the use of any Intellectual Property by Sterling and its Subsidiaries does not infringe, misappropriate or otherwise violate the rights of any person and is in accordance with any applicable license pursuant to which Sterling or any Sterling Subsidiary acquired the right to use any Intellectual Property, and (ii) to the knowledge of Sterling, no person has asserted in writing to Sterling that Sterling or any of its Subsidiaries has infringed, misappropriated or otherwise violated the Intellectual Property rights of such person, (b) no person is challenging or, to the knowledge of Sterling, infringing on or otherwise violating, any right of Sterling or any of its Subsidiaries with respect to any Intellectual Property owned by Sterling or its Subsidiaries, and (c) neither Sterling nor any Sterling Subsidiary has received any written notice of any pending claim with respect to any Intellectual Property owned by Sterling or any Sterling Subsidiary, and Sterling and its Subsidiaries have taken commercially reasonable actions to avoid the abandonment, cancellation or unenforceability of all Intellectual Property owned or licensed, respectively, by Sterling and its Subsidiaries. For purposes of this Agreement, “Intellectual Property” means trademarks, service marks, brand names, internet domain names, logos, symbols, certification marks, trade dress and other indications of origin, the goodwill associated with the foregoing and registrations in any jurisdiction of, and applications in any jurisdiction to register, the foregoing, including any extension, modification or renewal of any such registration or application; patents, applications for patents (including divisions, continuations, continuations in part and renewal applications), all improvements thereto, and any renewals, extensions or reissues thereof, in any jurisdiction; trade secrets; and copyright registrations or applications for registration of copyrights in any jurisdiction, and any renewals or extensions thereof.

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Intellectual Property. (a) In the event of any infringement or attempted infringement of the Software or On2's Intellectual Property Rights (or any part thereof), E-world shall promptly notify On2 and fully cooperate with On2 in any action deemed appropriate by On2 in its sole discretion (including participating in or initiating any action or proceeding) to enforce or safeguard On2's rights and interests. E-world may not conduct or institute any action with respect to such infringement without the prior written consent of On2. On2 shall have full discretion with respect to such action. If On2 decides not to take action, E-world may conduct or institute any such action but shall keep On2 fully informed. In the event of any infringement or attempted infringement of the Intellectual Property Rights of both E-world and On2, the parties shall consult each other and cooperate to determine any action to be taken with respect to such infringement. (b) Any improvements or modifications made by E-world to the Software or any of On2's Intellectual Property Rights and/or any development of any new technology, technique, skill or process relating to the Software or any of On2's Intellectual Property Rights shall be referred to herein as "Improvements". E-world shall promptly inform and provide copies to On2 of any Improvements. The parties agree that (i) Improvements shall be jointly owned, (ii) treated as part of the licensed Software and/or Intellectual Property Rights and such Improvement shall not be used and exploited by E-world in a manner inconsistent with the terms of this Agreement; (iii) without prior written consent from the other party, neither party shall assign, transfer or license any rights, title and interest in such Improvement to any third party whether during the term of this Agreement or at any time after its termination or expiration; and (iv) E-world shall not seek or apply for intellectual property protection (including, without limitation, patents or copyrights) for any Improvements without On2's prior written consent, which consent shall not be unreasonably withheld. (c) If during the term of this Agreement, On2 decides to terminates its video compression business or in the event of bankruptcy or liquidation of On2, E-world shall continue to have the right to use the Software and On2's Intellectual Property Rights in accordance with the licenses granted under this Agreement and shall have the right use the Source Code for development purposes.

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Intellectual Property. (a) Schedule 4.09(a) sets forth a true and complete list of all (i) Registered Intellectual Property included in the Owned Intellectual Property, indicating for each item the registration or application number, the registration or application date, and the applicable filing jurisdiction and (ii) Owned Intellectual Property that is not registered but that is material to the operation of the Business. Sellers exclusively own all, right, title and interest in all Owned Intellectual Property, free and clear of all Encumbrances (other than Permitted Encumbrances). Sellers are not bound by any outstanding judgment, injunction, order or decree or any contractual obligation materially restricting the use by a Seller of the Owned Intellectual Property, or materially restricting the licensing thereof to any Person. With respect to the Registered Intellectual Property included in the Owned Intellectual Property listed on Schedule 4.09(a), (i) all such Registered Intellectual Property is subsisting and, to Sellers’ Knowledge, valid and enforceable, (ii) a Seller is the owner of record, and (iii) all maintenance fees and filings that are required to be made to maintain such Registered Intellectual Property have been timely made (taking into account any applicable grace periods). (b) Schedule 4.09(b) sets forth, or at the Closing will set forth, a true and complete list of all Intellectual Property Licenses. Except as set forth on Schedule 4.09(b), Sellers have provided Buyer with true and complete copies of all such Intellectual Property Licenses. All such Intellectual Property Licenses are, to Sellers’ Knowledge, valid, binding and enforceable between the applicable Seller and the other parties thereto, and Seller and, to Sellers’ Knowledge, such other parties are in compliance with the material terms and conditions of such Intellectual Property Licenses. (c) To Sellers’ Knowledge, the conduct of the Business as currently conducted does not infringe, misappropriate, dilute or otherwise violate, and in the past three (3) years has not infringed, misappropriated or otherwise violated, any Intellectual Property rights of any Third Party. Sellers have not received any notice that Sellers’ use of the Transferred Intellectual Property in the conduct of the Business as currently conducted infringes, misappropriates, dilutes or otherwise violates, or in the past three (3) years has infringed, misappropriated or otherwise violated, any Intellectual Property Rights of any Third...

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Intellectual Property. The Company owns or possesses or has valid rights to use or can develop or acquire on reasonable terms all patents, patent applications, trademarks, service marks, trade names, trademark registrations, service xxxx registrations, copyrights, licenses, inventions, trade secrets and similar rights (“Intellectual Property Rights”) necessary for the conduct of the business of the Company as currently carried on and as described in the Registration Statement, the General Disclosure Package and the Prospectus. To the knowledge of the Company, no action or use by the Company necessary for the conduct of its business as currently carried on and as described in the Registration Statement and the Prospectus will involve or give rise to any infringement of any Intellectual Property Rights of others. The Company has not received any written notice alleging any such infringement or conflict with asserted Intellectual Property Rights of others. Except as would not reasonably be expected to result, individually or in the aggregate, in a Material Adverse Change (A) to the knowledge of the Company, there is no infringement, misappropriation or violation by third parties of any of the Intellectual Property Rights owned by the Company; (B) there is no pending or, to the knowledge of the Company, threatened action, suit, proceeding or claim by others challenging the rights of the Company in or to any such Intellectual Property Rights, and the Company is unaware of any facts which would form a reasonable basis for any such claim; (C) the Intellectual Property Rights owned by the Company and, to the knowledge of the Company, the Intellectual Property Rights licensed to the Company have not been adjudged by a court of competent jurisdiction invalid or unenforceable, in whole or in part, and there is no pending or, to the Company’s knowledge, threatened action, suit, proceeding or claim by others challenging the validity or scope of any such Intellectual Property Rights, and the Company is unaware of any facts which would form a reasonable basis for any such claim; (D) there is no pending or, to the Company’s knowledge, threatened action, suit, proceeding or claim by others that the Company infringes, misappropriates or otherwise violates any Intellectual Property Rights or other proprietary rights of others, the Company has not received any written notice of such claim and the Company is unaware of any other facts which would form a reasonable basis for any such claim; and (E) t...

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