Examples of Background Intellectual Property Rights in a sentence
Ownership of a Party’s Background Intellectual Property Rights vests in and shall remain vested in that Party.
All Intellectual Property Rights (other than the Contractor’s Background Intellectual Property Rights) in the designs, documents, materials, equipment or methods of working provided by the Contractor under the Contract will vest in the Principal.
The Contractor grants to the Principal a royalty-free, perpetual, irrevocable, express, non- exclusive, world-wide licence to use, exercise and sub-license the Contractor’s Background Intellectual Property Rights only for the intended purpose of the Contract.
The Principal grants the Contractor a revocable, royalty-free and non-transferable licence to use any Principal’s Background Intellectual Property Rights to the extent necessary for the Contractor to supply the Goods and/or Services.
Buyer and Seller will each retain ownership of their respective Background Intellectual Property Rights.