Option IP definition

Option IP means Option Know-How and Option Patents.

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Option IP means any patent rights, know-how, and other intellectual property specifically relating to any Option Product controlled by RSL or its Covered Affiliates following the Effective Date.

Option IP means any intellectual property (IP), including, patent rights and copyrights, in any inventions or discoveries, where: (a) (i) ▇▇▇▇▇▇▇▇ ▇▇▇, acting in his capacity as an employee of DUKE, is the sole or joint inventor or author and such IP was not funded under a written agreement between Duke and the third party that provides such third party exclusive rights to said IP (e.g., a sponsored research agreement or other conditional support with a third party for-profit or other entity), and/or (ii) ▇▇▇▇▇ ▇▇▇▇▇▇, acting in his capacity as an employee of DUKE, is the sole or joint inventor or author and such IP was not funded under a written agreement between Duke and the third party that provides such third party exclusive rights to said IP (e.g., a sponsored research agreement or other conditional support with a third party for-profit or other entity), and/or (iii) ▇▇▇▇▇▇▇ ▇▇▇▇▇, acting in his capacity as an employee of DUKE, is the sole or joint inventor or author and such IP was not funded under a written agreement between Duke and the third party that provides such third party exclusive rights to said IP (e.g., a sponsored research agreement or other conditional support with a third party for-profit or other entity), and/or (iv) an individual in a lab supervised by ▇▇▇▇▇▇▇▇ ▇▇▇, ▇▇▇▇▇ ▇▇▇▇▇▇ and/or ▇▇▇▇▇▇▇ ▇▇▇▇▇ and under the control of DUKE is the sole or a joint inventor or author and such IP was not funded under a written agreement between Duke and the third party that provides such third party exclusive rights to said IP (e.g., a sponsored research agreement or other conditional support with a third party for-profit or other entity); and/or (v) is co-invented or authored with Licensee (collectively the individuals mentioned in (i) – (iii) above shall be referred to as the “PIs”); and (b) (i) is solely owned by Duke and conceived, reduced to practice, authored, and first formally disclosed to DUKE’s Office of Licensing and Ventures (“OLV”), during the Option Period (unless extended by the terms of this Option Agreement) and that relates to the field of quantum information processing devices; or (ii) is partially owned by Duke, where Duke’s interest in any such IP is jointly owned by Duke and one or more a third parties and where DUKE’s rights in said IP are capable of being licensed to Licensee either exclusively or nonexclusively, and where said IP is conceived, reduced to practice, authored, and first formally disclosed to DUKE’s Office of Licensing a...

Examples of Option IP in a sentence

If Ambrx determines not to exercise an Option with respect to particular Option IP as set forth in the applicable Option Notice, the Option Notice shall so state.
Institute is free to pursue the rejected Option IP with non-Ambrx Technology and non-Ambrx Materials and its own funding.
Ambrx shall deliver to Institute written notice (each, an “Option Notice”) within the Option Period specifying the particular Invention, Invention Patent and related Information, if any, described in the applicable Invention Disclosure and Invention Data Package and the Institute Controlled IP associated with such Invention Data Package (collectively, the “Option IP”), and shall state whether Ambrx is exercising the Option or not with respect to the particular Option IP.
If Ambrx exercises an Option with respect to particular Option IP and subsequently or concurrently determines to Sublicense such Option IP, it shall deliver to Institute written notice of its determination to Sublicense (each, a “Sublicense Notice”).
In addition, for clarity, following a termination under this Section 12.3, no new Research Plans may be proposed for approval or initiated; and if Ambrx has previously exercised an Option with respect to particular Option IP, the licenses granted to Ambrx pursuant to the exercise of such Option shall remain in full force and effect.
If any Option Holder elects not to have the Option IP registered, UNSW or its Nominee may at its sole discretion proceed to pay the Costs itself.
For clarity, the license grant set forth in Section 3.1 shall not cover the particular Option IP for which Ambrx has determined not to exercise its Option and Institute hereby covenants and agrees that no funding provided by Ambrx hereunder shall be used by Institute if it determines to further pursue such rejected Option IP.
Subject to the terms and conditions of this Agreement and during the applicable Technologies Option Period, Autolus hereby grants to BioNTech a non-exclusive, non-transferable, limited, non-sublicensable (other than to Third Party Evaluators) license under the Technologies Option IP for BioNTech’s internal research purposes to evaluate whether BioNTech wishes to exercise a Technologies Option in respect of all or part of the Technologies Option Technology (“Evaluation”).
If any Option Holder elects to have the Option IP registered, that Option Holder will be responsible for its portion of any Intellectual Property Rights registration costs (Costs) and will have no claim against UNSW or its Nominee or any other Option Holder for reimbursement of those Costs (or any part of them).
UNSW or its Nominee will consult with each of the Option Holders on the protection and prosecution of the Option IP.

More Definitions of Option IP

Option IP means any intellectual property (IP), including, without limitation, patent rights and copyrights, in any inventions or discoveries, whether or not patentable, or copyrighted works, where: (a) ▇▇▇▇▇▇▇▇ ▇▇▇, acting in his capacity as an employee of DUKE, is the sole or joint inventor or author, or (b) an individual in a lab supervised by ▇▇▇▇▇▇▇▇ ▇▇▇ and under the control of DUKE is the sole or a joint inventor or author; and that is conceived, reduced to practice, authored, or first formally disclosed to DUKE’s Office of Licensing and Ventures (“OLV”), during the Option Period unless extended by the terms of this Option Agreement and that relates to the field of ion trap quantum information processing devices.

Option IP means those certain patents and patent applications identified on Exhibit D attached hereto.

Option IP means any intellectual property (IP), including without limitation patent rights and copyrights, in any inventions or discoveries, whether or not patentable, or copyrighted works, where: (a) ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, acting in his capacity as an employee of UMD, is the sole or a joint inventor or author, or (b) another individual in a lab supervised by ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ and under the control of UMD is the sole or a joint inventor or author; and that is conceived, reduced to practice, authored, or first formally disclosed to UMD, after the Effective Date of the Exclusive License Agreement and that relates to the field of ion trap quantum information processing devices.