IP Expert definition

IP Expert has the meaning provided in Section 6.4.3(b).

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

IP Expert has the meaning set forth in Section 8.3.2.4 (New Technology Disputes).

IP Expert has the meaning set forth in Clause 11.1 (Future IP); “Library” means the general repository of microbial strains and cell banks located at the [***]; “New Patents” has the meaning set forth in Clause 11.1 (Future IP); “Non-Assert” means the non-assert obligations undertaken by Reverdia pursuant to Clause 2.1 of this Agreement;

Examples of IP Expert in a sentence

• Following appointment of the IP Expert, each Party shall provide relevant evidence supporting such Party’s position regarding whether such Patent is an Existing Blocking Patent Right, and the IP Expert shall thereafter review such evidence and make a determination as to whether such Patent is an Existing Blocking Patent Right, and such determination shall be final and binding on both Parties.

• The Parties shall equally split the cost of any IP Expert appointed to determine the existing of an Existing Blocking Patent Right under this Section 6.4.3(b).

• The fees and costs of the IP Expert shall be shared equally by the parties.

• If the IP Expert determines that such Patent is not an Existing Blocking Patent Right, AstraZeneca shall have the right to enter into an agreement to obtain such rights nonetheless, however AstraZeneca shall be solely responsible for all reasonable costs therefor, and shall not have the right to deduct or credit such costs under Section 6.4.3(a).

• If the IP Heads cannot agree on a resolution to the matter within such [***] Business Day period, then either Party may refer such matter for resolution to the IP Expert within [***] Business Days after the IP Heads have failed to resolve such matter.

• Within [***] days of having been referred such matter, the IP Expert will deliver its written decision to the Parties (including a detailed report as to such IP Expert’s rationale for such decision), and such decision will be binding on the Parties.

• In the event the IP Expert determines that such Patent is an Existing Blocking Patent, Regulus shall use commercially reasonable efforts to obtain such rights to the Existing Blocking Patent Right as described above.

• The IP Expert shall provide its advice within 45 (forty five) days from its date of appointment by the Parties.

• The IP Expert shall enter into a confidentiality obligation reasonably acceptable to each of the Parties.

• The Parties will share all costs and expenses incurred in connection with the engagement of the IP Expert equally (50:50).

More Definitions of IP Expert

IP Expert means an independent Third Party expert who is an attorney having practiced United States patent law for at least [***] (or who has such other similar credentials as agreed by the Parties) selected by the Parties through the JIPC within [***] of the Effective Date, and, unless otherwise agreed in writing by the Parties, is not a current or former employee, contractor, agent or consultant of either Party or any of its Affiliates.