Pledged Patents definition
Examples of Pledged Patents in a sentence
Another goal of the Membership Agreement is to create a collective shield of patents that provides Members access to each other’s Pledged Patents for the purposes of defensively asserting the Pledged Patents against Asserting Entities.
Except as expressly stated in the Patent Pledge, all other rights of the Members are hereby reserved with respect to their Pledged Patents.
Such administrative responsibilities may include organizing Member meetings, reviewing membership applications, collecting information regarding Pledged Patents and the Members’ compliance with the Membership Agreement, and collecting Membership Fees as the Board may require from time to time.
Such a collective shield provides each Member access to a larger number of patents to use defensively against Asserting Entities (relative to the patents they may individually own) and helps deter such Asserting Entities from initiating lawsuits in the first place because of the possibility that the Pledged Patents can be used against them.
By paying any applicable Membership Fees and submitting a signed Signature Page that is accepted and formally acknowledged by COPA, a counterparty becomes a Member and is bound by this Membership Agreement, regardless of whether such counterparty holds any Pledged Patents.
It is COPA’s and the Members’ intention that if an Other Member makes a request to use one or more of the Pledged Patents from the Shared Patent Library in accordance with Exhibit C (Shared Patent Library procedures) attached hereto, the Owner Member will consider the request in good faith and not unreasonably deny the request as set forth in Section 2 of Exhibit C.
In furtherance of this goal, each Member agrees to make their Pledged Patents available for Other Members to request to use in accordance with this Section 3.
For clarity, Pledged Patents do not include Crypto Patents that are the subject of an application filed or acquired by a Withdrawn Entity or Expelled Entity after the effective date of its withdrawal or expulsion (as applicable).
If and once the Owner Member approves the request, the Owner Member will enter into negotiations with the Other Member and COPA (if applicable) in accordance with Exhibit C to transfer the necessary rights in the requested Pledged Patent(s) to the Other Member or to COPA (if applicable).
The Patent Pledge granted by a Withdrawn Entity or Expelled Entity will remain in effect and will continue with respect to (i) all of its Pledged Patents existing as of the effective date of its withdrawal or expulsion (as applicable) and (ii) all of its Crypto Patents that issue after such date and that were the subject of a patent application such Withdrawn Entity or Expelled Entity owned as of or prior to such date.