Ownership and Assignment of Inventions. Executive agrees that if, during his employment with Company, Executive shall (either alone or with others) make, conceive, discover or reduce to practice any invention, modification, discovery, design, development, improvement, process, formula, data, technique, know-how, secret or intellectual property right whatsoever or any interest therein (whether or not patentable or registrable under copyright or similar statutes or subject to analogous protection) (collectively, “Inventions”) that relates to any of the products or services being developed, manufactured or sold by Company or which may conveniently be used in relation therewith or which may be used in place of any such product or service, or results from tasks assigned to Executive by Company or results, in whole or in part, from the use of property or premises owned, leased or contracted for by Company, such Inventions and the benefits thereof shall immediately become the sole and absolute property of Company and its assigns. Executive agrees that all Inventions that consist of works of authorship capable of protection under copyright laws shall constitute works made for hire. Executive hereby agrees to assign, and to the extent he may lawfully do so, hereby assigns to Company, any rights Executive may have or acquire in the Inventions and benefits and/or rights resulting therefrom to Company and its assigns without compensation.
Appears in 3 contracts
Sources: Employment Agreement (Power Medical Interventions, Inc.), Employment Agreement (Power Medical Interventions, Inc.), Employment Agreement (Power Medical Interventions, Inc.)