Common use of Ownership and Assignment Clause in Contracts

Ownership and Assignment. Without limiting Section 10(a) above, all Work Product is a work made for hire of Buyer for all purposes of Intellectual Property law, and the rights to Work Product shall belong solely to Buyer. To the extent the Work Product is, as a matter of law, not a work made for hire; however, Seller hereby irrevocably assigns and shall assign to Buyer the rights to Intellectual Property subsisting in and to any Work Product and all the exclusive rights under such Intellectual Property rights, as set forth on Exhibit A – Form of Assignments. As evidence of such Intellectual Property rights assignment, Seller shall execute an assignment agreement, and cause Seller’s Employees to execute an assignment instrument, as set forth on Exhibit B – Form of Assignments, to this Agreement, with respect to the Work Product before allowing Seller’s Employees to perform any work under this Agreement. Seller will promptly deliver both assignment instruments to Buyer on execution. Buyer shall have the right to hold and register such Intellectual Property rights in its own name.

Ownership and Assignment. Without limiting Section 10(a) above, all Work Product is a work made for hire of Buyer for all purposes of Intellectual Property law, and the rights to Work Product shall belong solely to Buyer. To the extent the Work Product is, as a matter of law, not a work made for hire; however, Seller hereby irrevocably assigns and shall assign to Buyer the rights to Intellectual Property subsisting in and to any Work Product and all the exclusive rights under such Intellectual Property rights, as set forth on Exhibit A – Form of Assignments. As evidence of such Intellectual Property rights assignment, Seller shall execute an assignment agreement, and cause SellerXxxxxx’s Employees to execute an assignment instrument, as set forth on Exhibit B – Form of Assignments, to this Agreement, with respect to the Work Product before allowing Seller’s Employees to perform any work under this Agreement. Seller will promptly deliver both assignment instruments to Buyer on execution. Buyer shall have the right to hold and register such Intellectual Property rights in its own name.