Common use of PROPRIETARY ASSET Clause in Contracts

PROPRIETARY ASSET. “Proprietary Asset” shall mean any (a) patent, patent application, copyright (whether registered or unregistered and whether or not relating to a published work), trademark application, trade name, fictitious business name, service ▇▇▇▇ (whether registered or unregistered), trademark service ▇▇▇▇ application, trade secret, know-how, franchise, system, computer software, invention, design, blueprint, proprietary product, technology, proprietary right or other intellectual property right or intangible asset; or (b) right to use or exploit any of the foregoing. Proprietary Assets of Seller includes rights licensed to the Seller from a Third Party only if and to the extent that the Seller has the right to sublicense such rights to the Purchaser.