Reciprocal Grants Clause Samples
The Reciprocal Grants clause establishes that both parties to an agreement mutually provide each other with certain rights or permissions, typically regarding intellectual property or use of materials. In practice, this means that each party grants the other a license or right to use specified assets, such as software, trademarks, or confidential information, under agreed terms and conditions. This clause ensures fairness and balance in the exchange of rights, preventing one-sided benefits and facilitating collaboration or joint ventures by clearly defining the scope and limitations of each party’s granted rights.
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Reciprocal Grants. (a) Each Party hereto grants hereby certain rights in Intellectual Property (defined and scheduled below) and Trade Secrets and, with respect to such rights, shall be termed the "Granting Party"; with respect to such rights, the grantee shall be termed the "Licensee Party." The following basic grants shall control each identified type of Intellectual Property and Trade Secrets, but each grant shall be subject to any further conditions adjoining the specific item of Intellectual Property as scheduled (for Copyrights on Schedule 2(b), for Marks on Schedule 2(c), and for Patents on Schedule 2(d)). Where a Party is granted a right to sublicense pursuant to this Section 2, any sublicense granted pursuant to such right shall comply with Section 2(g) below.
Reciprocal Grants. For any file you distribute that contains code from the software (in source code or binary format), you must provide recipients the source code to that file along with a copy of this license, which license will govern that file. You may license other files that are entirely your own work and do not contain code from the software under any terms you choose.
Reciprocal Grants