Ownership of Technology and Intellectual Property Clause Samples
The "Ownership of Technology and Intellectual Property" clause defines who holds the rights to inventions, software, designs, or other intellectual property created during the course of a contract or project. Typically, this clause specifies whether such IP belongs to the creator, the client, or is jointly owned, and may outline procedures for transferring rights or granting licenses. Its core function is to prevent disputes by clearly allocating ownership and usage rights, ensuring all parties understand their entitlements and obligations regarding the developed technology or intellectual property.
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Ownership of Technology and Intellectual Property. 6.1 Subject to provisions of this Agreement, the Invention, the Existing Patents, the Existing Technology and all Intellectual Property in respect of any of the Existing Technology shall remain the exclusive property of ICRT.
6.2 Any Project Technology, and any Project Patents or other Intellectual Property in respect of any Project Technology, shall -
(a) if made solely by ICRT staff working on the Project, belong exclusively to ICRT;
(b) if made solely by Introgen staff working on the Project, belong exclusively to Introgen;
(c) if made jointly by ICRT staff and Introgen staff working on the Project, belong to ICRT and Introgen jointly in equal undivided shares.
6.3 Except as otherwise provided in this Agreement and subject to the rights and licences granted herein, neither party shall have any obligation to account to the other for profits, or to obtain any approval or consent of the other party to license or exploit any Intellectual Property, by reason of their joint ownership of such Intellectual Property.
6.4 ICRT and Introgen shall discuss and seek to agree upon the extent to which, and the countries in which, patent protection for any Project Technology owned by ICRT or jointly owned by ICRT and Introgen should be obtained and, except to the extent that they otherwise agree in writing -
(a) the protection shall be applied for by ICRT in the name of ICRT, or jointly in the names of ICRT and Introgen, as the case may be;
(b) ICRT shall diligently prosecute and maintain the Project Patents in question and keep Introgen fully informed as to the prosecution status of the Project Patents (including, without limitation, furnishing to Introgen information relevant to such prosecution and maintenance) and shall give fair consideration to suggestions made by Introgen in respect of the prosecution strategy in as far as they relate to the Field, but if ICRT notifies Introgen in writing that -
(i) it wishes to abandon any such patent application or patent, it shall give a prompt written notice to Introgen offering to assign it to Introgen at the expense of Introgen but otherwise free of charge, and if Introgen does not accept the offer in writing within 30 days, ICRT shall have no further obligation with respect to the patent or patent application in question; or
(ii) it does not wish to elect to proceed from PCT stage to national stage with respect to any such application in any country, it shall give a prompt written notice to Introgen;
(c) where ICRT gives s...
Ownership of Technology and Intellectual Property. ThinKom will remain the owner of any Technology previously developed by ThinKom. Gigabeam will remain the owner of any Technology previously developed by Gigabeam. Any enhancements or improvements to the Technology ("Improvements") reduced to practice or writing by one or more employees, consultants or sublicensees of Gigabeam will be owned by Gigabeam. Any Improvements reduced to practice or writing by one or more employees, consultants or sublicensees of ThinKom will be owned by ThinKom. Any Improvements reduced to practice or writing jointly by one or more employees, consultants or sublicensees of Gigabeam and ThinKom, will be owned jointly by Gigabeam and ThinKom.
Ownership of Technology and Intellectual Property