Common use of OWNERSHIP OF TECHNICAL DATA AND LICENSED ITEMS Clause in Contracts

OWNERSHIP OF TECHNICAL DATA AND LICENSED ITEMS. (A) During the term of this License Agreement, the Technical Data and the Licensed Items shall remain owned by Licensor. In addition to any other rights it may have, Licensor expressly retains the right to customize a propulsion system exclusively for a customer other than Licensee, provided that: (B) Nothing in this License Agreement shall be deemed to constitute a transfer of title, or any interest other than a license, in the Technical Data or the Licensed Items. (C) Any improvements, enhancements, and/or modifications made by Licensee to the Technical Data or the Licensed Items shall be the property of Licensee. Licensor shall have a fully-paid, worldwide, non-exclusive license to use, manufacture, sell, distribute and sublicense such improvements, enhancements, and/or modifications. The obligations of Licensee to provide Licensor with information regarding any improvements, enhancements or modifications to the technology is expressly understood to be ongoing. In furtherance of this obligation, Licensee ▇▇▇▇ meet at least quarterly with Licensor to review the status of transfer of technical data, as well as progress on improvements, updates or upgrades thereto. (D) Any improvements, enhancements, and/or modifications made by Licensor to the Technical Data shall be the property of Licensor. Licensee shall have such license rights in the improvements, enhancements, and/or modifications made by Licensor as have been granted to Licensee in Article II above. The obligations of Licensor to provide Licensee with information regarding any improvements, enhancements or modifications to the technology is expressly understood to be ongoing. In furtherance of this obligation, Licensor will meet at least quarterly with Licensee to review the status of transfer of technical data, as well as progress on improvements, updates or upgrades thereto (E) The parties agree to cooperate with and to assist each other in protecting the intellectual property rights to the Technical Data, the Licensed Items, and any improvements, enhancements, and/or modifications made thereto by Licensee or Licensor, including assistance in filing for patent protection worldwide. The parties agree that this is one of the material terms of this License Agreement, and each recognizes the importance of protecting the intellectual property and providing assistance in filing for patent protection worldwide. Each party further agrees that these obligations are expressly understood to be ongoing throughout the term of this License Agreement.

Appears in 1 contract

Sources: License Agreement (Hyundai Motor Co)

OWNERSHIP OF TECHNICAL DATA AND LICENSED ITEMS. (A) During the term of this License Agreement, the Technical Data and the Licensed Items shall remain owned by Licensor. In addition to any other rights it may have, Licensor expressly retains the right to customize a propulsion system exclusively for a customer other than Licensee, provided that: (B) Nothing in this License Agreement shall be deemed to constitute a transfer of title, or any interest other than a license, in the Technical Data or the Licensed Items. (C) Any improvements, enhancements, and/or modifications made by Licensee to the Technical Data or the Licensed Items shall be the property of Licensee. Licensor shall have a fully-paid, worldwide, non-exclusive license to use, manufacture, sell, distribute and sublicense such improvements, enhancements, and/or modifications. The obligations of Licensee to provide Licensor with information regarding any improvements, enhancements or modifications to the technology is expressly understood to be ongoing. In furtherance of this obligation, Licensee ▇▇▇▇ will meet at least quarterly with Licensor to review the status of transfer of technical data, as well as progress on improvements, updates or upgrades thereto. (D) Any improvements, enhancements, and/or modifications made by Licensor to the Technical Data shall be the property of Licensor. Licensee shall have such license rights in the improvements, enhancements, and/or modifications made by Licensor as have been granted to Licensee in Article II above. The obligations of Licensor to provide Licensee with information regarding any improvements, enhancements or modifications to the technology is expressly understood to be ongoing. In furtherance of this obligation, Licensor will meet at least quarterly with Licensee to review the status of transfer of technical data, as well as progress on improvements, updates or upgrades thereto (E) The parties agree to cooperate with and to assist each other in protecting the intellectual property rights to the Technical Data, the Licensed Items, and any improvements, enhancements, and/or modifications made thereto by Licensee or Licensor, including assistance in filing for patent protection worldwide. The parties agree that this is one of the material terms of this License Agreement, and each recognizes the importance of protecting the intellectual property and providing assistance in filing for patent protection worldwide. Each party further agrees that these obligations are expressly understood to be ongoing throughout the term of this License Agreement.

Appears in 1 contract

Sources: Common Stock Purchase Agreement (Us Electricar Inc)