Licensed Technology definition
Examples of Licensed Technology in a sentence
Licensee shall have the option to acquire by an assignment from IPI to Licensee any IPI interests in the Licensed Technology or any IPI rights to joint intellectual property under the terms of Section 4.
Beginning in the year after the fifth anniversary of the Effective Date, if IPI should receive a request to license the Licensed Technology within the Field from a third party in which Licensee is not actively developing or commercializing a Product (each an “Undeveloped Subfield”), IPI shall provide written notice to Licensee within [***] of receipt of such request from third party of said Undeveloped Subfield.
All rights of Licensee to practice the Licensed Patents and Licensed Technology will cease immediately.
Without limitation, Confidential Information shall include the terms of this Agreement, the Licensed Technology, Licensee’s development plan and annual progress report, financial statements, revenue reports, sublicense agreements, nonpublic patent applications and unfiled patent office documents, and information shared by the inventors of the Licensed Patents, and may include third party information.
Subject to the terms and conditions of this Agreement, IPI hereby grants to Licensee an exclusive license under IPI’s interests in the Licensed Technology to research, develop, make, have made, use, sell, offer to sell, import and commercialize Products in the Territory in the Field, with the right to sublicense through multiple fields as set forth herein 1 Defined terms to be alphabetized prior to execution.