Acquired IP definition
Examples of Acquired IP in a sentence
There are no Orders, Contracts or other agreements to which Sellers are a party or, to the Knowledge of Sellers, by which Sellers are bound, that restrict Sellers’ rights to use the Acquired IP or the Licensed IP.
Sellers hereby grant to Buyer a royalty-free, fully paid-up, license to use any Non-Territory Patents not included in the Acquired IP that are reasonably necessary for Buyer’s manufacture of Ameluz outside of the Territory but solely for Buyer’s marketing, promotion, commercialization, sale and distribution of Ameluz in the Territory.
Buyer hereby grants to Sellers a royalty- free, fully paid-up, license to use any Patents held outside the Territory (“Non-Territory Patents”) that are included in the Acquired IP that are reasonably necessary for Sellers’ manufacture, marketing, promotion, commercialization, sale and distribution of the Products or any components thereof outside of the Territory.