License and Option. University grants to Company an exclusive option to obtain an exclusive (if available) worldwide license, with the right to grant sublicenses in the case of an exclusive license, to any or all of University's interests in the University Inventions and Joint Inventions under this Agreement. The terms of the exclusive license will be negotiated in good faith by the Parties, such option to exist for ninety (90) days following Company’s receipt of disclosure of such Invention. Such license will include commercially reasonable financial consideration, including reimbursement of patent costs.
Appears in 4 contracts
Samples: Sbir/STTR Research Agreement, Sbir/STTR Research Agreement, Sbir/STTR Sponsored Research Agreement
