Examples of Joint Invention in a sentence
Each Party shall be entitled to disclose such Jointly Owned Results without restrictions unless such Jointly Owned Results contain a Joint Invention in which case no disclosure must be made prior to the filing of a priority application.
All expenses incurred in obtaining and maintaining any patent on such Joint Invention shall be equally shared except that, if one Party declines to share in such expenses, the other Party may take over the prosecution and maintenance thereof, at its own expense, provided that title to the patent remains in the names of both Parties.
Each Party shall promptly notify the other Party of any Joint Invention; in the case of MIT, such notification shall be provided to Sponsor after an invention disclosure is received by MIT’s Technology Licensing Office (“TLO”).
MIT shall have the first right to file a patent application on a Joint Invention in the names of both Parties, unless otherwise agreed.
Each Party shall have the independent, unrestricted right to license to third parties any such Joint Invention without accounting to the other Party, except that Sponsor shall be entitled to request an exclusive license to MIT’s interest in a Joint Invention as provided under Section 11.B.2 below.