Common use of Stanford Suit Clause in Contracts

Stanford Suit. Stanford has the first right to institute suit, and may name ***** as a party for standing purposes. If Stanford decides to institute suit, it will notify ***** in writing. If ***** does not notify Stanford in writing that it desires to jointly prosecute the suit within 15 days after the date of the notice, ***** will assign and hereby does assign to Stanford all rights, causes of action, and damages resulting from the alleged infringement. Stanford will bear the entire cost of the litigation and will retain the entire amount of any recovery or settlement.

Stanford Suit. Stanford has the first right to institute suit, and may name ***** Company as a party for standing purposes. If Stanford decides to institute suit, it will notify ***** Company in writing. If ***** Company does not notify Stanford in writing that it desires to jointly prosecute the suit within 15 days after the date of the notice, ***** Company will assign and hereby does assign to Stanford all rights, causes of action, and damages resulting from the alleged infringement. Stanford will bear the entire cost of the litigation and will retain the entire amount of any recovery or settlement.

Stanford Suit. Stanford has the first right to institute suit, and may name ***** Licensee as a party for standing purposes. If Stanford decides to institute suit, it will notify ***** Licensee in writing. If ***** Licensee does not notify Stanford in writing that it desires to jointly prosecute the suit within 15 days after the date of the notice, ***** Licensee will assign and hereby does assign to Stanford all rights, causes of action, and damages resulting from the alleged infringement. Stanford will bear the entire cost of the litigation and will retain the entire amount of any recovery or settlement.