Examples of Corporate Party in a sentence
Results may be assigned or sub-licensed by a Corporate Party as licensee to its Group Companies.
A Corporate Party which wishes to exercise its option under sections 12.1 and 12.3 above, shall inform the Research Party in writing of this within six months of the date on which it received information on the Project Result pursuant to section 7.3 above.
A Corporate Party is further entitled, on request, to receive from a Research Party [on favourable terms] an etarnal, global, non-exclusive right to Use he Research Party’s Individual Project Result and a Joint Project Result to the extent necessary for the Corporate Party at hand to be able to Use this in its own business.
Costs for the assessor’s statement shall be borne by the Corporate Party or Corporate Parties which finally acquire the Research Party’s Individual Project Result or the Research Party’s share in the Joint Project Result.
A Corporate Party, which together with a Research Party has generated a Joint Project Result, is entitled to acquire a Research Party’s share in the Joint Project Result in return for reasonable compensation.
If more than one Corporate Party accepts the valuation of the Research Party’s Individual Project Result, the Research party shall transfer its title to its Individual Project result to one of these, whereupon the Corporate Party which requested the valuation shall have priority over the Corporate Party which did not request the valuation and a Corporate Party which submitted a higher bid in prior negotiations shall have priority over a Corporate Party which submitted a lower bid in prior negotiations.
A Corporate Party which does not accept the valuation statement within the period set forth in 12.7 above shall be deemed to have rejected the valuation.
The Research Party shall transfer its title to its Individual Project Result to the Corporate Party which owns the right to acquire this in return for the compensation which the assessor has stated as being reasonable in his/her statement.
Both the Research Party and the Corporate Party concerned are entitled to provide the assessor with information on the Research Party’s Individual Project Result or the Joint Project Result in which the Research Party is a shareholder.
A Corporate Party which has been a shareholder in a Joint Project Result and which has assigned its share in a Joint Project Result but nevertheless, under the provisions of this Agreement, is entitled to Use a Joint Project Result in its business, shall have a right to receive a right to Use another Party’s Individual Project Result, another Party’s Joint Project Result and another Party’s Background Information corresponding to the right it had before the assignment.