Software Only Products definition
Examples of Software Only Products in a sentence
GPSI’s right to sublicense the Licensed Patent for Software Only Products outside of its Chain of Distribution is as set forth in Paragraph 3.1.
GPSI grants to GolfView a perpetual, non-terminable, royalty-free, limited exclusive license under the Licensed Patent to practice Licensed Methods by developing, making, having made, using, selling, offering for sale, leasing, importing, distributing and otherwise disposing of Software Only Products and in and into the Licensed Territory.
The parties further agree that their jointly retained contingent fee counsel may issue additional licenses for Software Only Products to third parties in connection with the settlement of actual or potential claims of patent infringement against such third parties.
Each party may, alternatively, sublicense its right to commercialize Software Only Products on an exclusive and royalty free basis to a single third party (hereinafter “Venture Partner”) outside of its Chain of Distribution.
GPSI is not obligated to pay to Optimal any portion of royalties generated from any sublicense granted by GPSI under Paragraph 3.3. The royalties received from any additional licenses for Software Only Products under Paragraph 3.2, net of any amounts due contingent fee counsel, will be shared equally between GPSI and Optimal.
Each party may participate in the commercialization of Software Only Products with its sublicensed Venture Partner, but shall not commercialize its own Software Only Products independent of the Venture Partner during the period in which such sublicense is in effect.