Licensed IPR definition
Examples of Licensed IPR in a sentence
The Supplier will indemnify the Customer and its directors, officers, employees, sub-contractors and agents (the Customer Indemnified Parties) against any and all claims, liabilities, damages, losses, expenses and costs (including legal costs on a full indemnity basis), that the Customer Indemnified Parties sustain or incur as a result, directly or indirectly, of any action, claim or proceeding that the Supplier Licensed IPR infringes the IPR of any third party.
If improvements created by the Licensor are being licensed to the Licensee, the scope of the Licensed IPR should describe this, or be amended (as required) to include these improvements.
It should be agreed by the parties prior to the Commencement Date, and should set out more detail of the process that will be used to Commercialise the Licensed IPR.
Each of these circumstances relates to third party actions that potentially infringe the Licensed IPR, or challenge the Licensor or Licensee's rights to the Licensed IPR.
The Licensor may assign or novate its rights to the Licensed IPR or this Agreement without the Licensee's consent.