Joint Development and Commercialization Clause Samples
The Joint Development and Commercialization clause establishes the terms under which two or more parties collaborate to develop and bring a product or technology to market. It typically outlines each party’s roles and responsibilities in research, development, funding, intellectual property management, and marketing activities. By clearly defining how the parties will share resources, make decisions, and divide profits or losses, this clause ensures coordinated efforts and helps prevent disputes, thereby facilitating a successful partnership from development through commercialization.
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Joint Development and Commercialization. In the event that both ---------------------------------------- parties elect to develop and commercialize a Development Candidate in accordance with Section 2.8.2 hereof, the parties shall promptly, after such election, begin good faith negotiations as to the arrangements and terms and conditions for further development and commercialization of such Development Candidate, including without limitation, the following:
Joint Development and Commercialization. Each Ophthalmic Product being jointly Developed and Commercialized by the Parties under this Agreement shall be referred to as a "Profit-Sharing Product", unless and until a Party exercises its Opt-Out Rights with respect to such Profit-Sharing Product.
Joint Development and Commercialization. 5.1 Option. Micromet will have the right to elect to develop and Commercialize the Product in the United States and in Europe jointly with Serono (the “Co-Promotion Option”) pursuant to the provisions of this Section 5.1. Within [***] days of commencement of the Serono Program pursuant to Section 3.3.3 (the “Co-Promotion Option Period”), Micromet may exercise the Co-Promotion Option with respect to one or both of the United States and Europe by providing written notice of such exercise to Serono designating the territory or territories with respect to which Micromet desires to exercise the option (such territory or territories, the “Co-Promotion Territory”). Such exercise will be effective immediately upon receipt of such notice by Serono. If Micromet does not exercise the Co-Promotion Option during the Co-Promotion Option Period, and Serono’s actual expenditures for Development Expenses during the initial [***] following expiration of the Co-Promotion Option Period do not equal at least [***] percent of the amounts for Development Expenses for such period set forth in the Serono Program Plan, then Serono will promptly so notify Micromet. For [***] day period following such notice, *** Certain information on this page has been omitted and filed separately with the Commission. Confidential treatment has been requested with respect to the omitted portions. Micromet may exercise its Co-Promotion Option (treating such period as the Co-Promotion Option Period), upon written notice to Serono and the payment of Micromet’s share (as described in Section 5.3.1) of Development Expenses incurred by Serono to the date of option exercise.
Joint Development and Commercialization. Following completion of the Research Activities under the Research Plan, the Parties shall discuss whether they want to jointly Develop or commercialize the Discovery Construct that is the subject of the Research Plan (and all products that include such Discovery Construct). Neither Party is required to enter into any Joint Development Agreement concerning the Discovery Data or any Discovery Construct.
Joint Development and Commercialization