Common use of Intellectual Property Defined Clause in Contracts

Intellectual Property Defined. Intellectual Property shall mean, writings, computer software, source code, object code, data base structures, inventions, formulas, discoveries, developments, methods, know how and processes (whether or not patentable or copyrightable or constituting trade secrets), formulations or specifications, product concepts or improvements to any of the foregoing, conceived, made, developed or discovered, by Executive (whether alone or with others) while Executive is employed by the Employer and that relate directly or indirectly to the past, present, or future business activities, research, product design or development, personnel, and business opportunities of the Employer, without regard to what was created during business hours, using Employer’s resources, or at the direction of Employer.