OWNERSHIP RIGHTS DEFINED Clause Samples
The "Ownership Rights Defined" clause establishes who holds legal rights to specific property, materials, or intellectual creations resulting from an agreement. It typically clarifies whether ownership remains with the original creator, is transferred to another party, or is shared, and may address both tangible and intangible assets such as inventions, documents, or software. This clause is essential for preventing disputes by clearly delineating rights and responsibilities regarding the use, modification, or distribution of the relevant property.
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OWNERSHIP RIGHTS DEFINED. LICENSEE acknowledges the ownership of the ▇▇▇▇ by LICENSOR, agrees that it will do nothing inconsistent with such ownership, and that all Use (and any other use thereof) of the ▇▇▇▇ by LICENSEE and all good will developed therefrom shall inure to the benefit of and be on behalf of LICENSOR. LICENSEE agrees that nothing in this Agreement shall give LICENSEE any right, title, or interest in the ▇▇▇▇ other than the right to Use the ▇▇▇▇ in accordance with this Agreement and LICENSEE agrees that it will not attack the title of LICENSOR to the ▇▇▇▇, the validity of the ▇▇▇▇, any rights of LICENSOR that may have arisen from this Agreement.
OWNERSHIP RIGHTS DEFINED. LICENSEE acknowledges the ownership of the Marks by LICENSOR, agrees that it will do nothing inconsistent with such ownership, and that all Use (and any other use thereof) of the Marks by LICENSEE and all good will developed therefore shall inure to the benefit of and be on behalf of LICENSOR. LICENSEE agrees that nothing in this Agreement shall give LICENSEE any right, title, or interest in the Marks other than the right to Use the Marks in accordance with this Agreement and LICENSEE agrees that it will not attack the title of LICENSOR to the Marks, the validity of the Marks, any rights of LICENSOR that may have arisen from this Agreement, or the validity of this Agreement. LICENSOR has the right to use any Licensed Product designed and used by LICENSEE and/or LICENSOR as part of LICENSEE’S obligation under this Agreement in any manner LICENSOR may deem beneficial to the exploitation of the Marks anywhere in the world, including, but not limited to, the production, sale and distribution of the Licensed Products through a third party contractor or a new licensee, should this License expire or terminate for any reason (with no right to a Winding-Up Period) prior to the fulfillment of any outstanding orders or as otherwise necessary to protect the reputation and goodwill of the Marks. LICENSEE shall be entitled to reimbursement for actual out-of-pocket expenses associated with the duplication of art work, designs, patterns, etc. developed by LICENSEE (which shall be duplicated and forwarded to LICENSOR promptly after requested by LICENSOR) for use as set forth in this paragraph.
OWNERSHIP RIGHTS DEFINED. SELLER acknowledges the ownership of the Marks and will do nothing inconsistent with such ownership, and that all Use (and any other use thereof) of the Marks by SELLER and all good will developed there from shall inure to the benefit of and be on behalf of BUYER upon closing of this transaction. BUYER agrees that nothing in this Agreement shall give SELLER any right, title, or interest in the Marks in accordance with this Agreement and SELLER agrees that it will not attack the title of BUYER to the Marks, the validity of the Marks, any rights of BUYER that may have arisen from this Agreement, or the validity of this Agreement.