The intellectual property ownership clause outlines the rights and responsibilities regarding the ownership and control of intellectual property (IP) created or used within the scope of a contract. Typically, it specifies whether the IP rights are retained by the creator, transferred to another party, or shared between parties involved, thereby preventing potential disputes over IP rights.
Intellectual Property Ownership. (a)All Work Products shall be considered work made for hire by Executive and owned by the Company. If any of the Work Product may not, by operation of law, be considered work made for hire by Executive for the Company, or if ownership of all rights, title, and interest of the intellectual property rights therein shall not otherwise vest exclusively in the Company, Executive hereby assigns to the Company, and upon the future creation thereof automatically assigns to the Company, without further consideration, the ownership of all Work Product. The Company shall have the right to obtain and hold in its own name copyrights, registrations and any other protection available in the Work Product. Executive agrees to perform, during or after Executive’s employment, such further acts which the Company requests as may be necessary or desirable to transfer, perfect and defend its ownership of the Work Product. As used in this Agreement, “Work Product” shall mean the data, materials, documentation, computer programs, inventions (whether or not patentable), improvements, modifications, discoveries, methods, developments, picture, audio, video, artistic works and all works of authorship, including all worldwide rights therein under patent, copyright, trademark, trade secret, confidential information or other property right, created or developed in whole or in part by Executive, while employed by the Company (whether developed during work hours or not), whether prior or subsequent to the date of this Agreement. (b)Notwithstanding the foregoing, this Agreement shall not require assignment of any invention that: (i) Executive developed entirely on Executive’s own time without using the Company’s equipment, supplies, facilities, or Confidential Information; and (ii) does not relate to the Company’s business or actual or anticipated research or development or result from any work performed by Executive for the Company. (c)License. To the extent that any preexisting materials are contained in Work Product which Executive delivers to the Company or its customers, Executive grants to the Company an irrevocable, nonexclusive, worldwide, royalty-free license to: (i) use and distribute (internally or externally) copies of, and prepare derivative works based upon, such preexisting materials and derivative works thereof; and (ii) authorize others to do any of the foregoing.
Under the agreement, the Company will retain all intellectual property ownership and licensing rights to the supercritical extraction technology.
INTELLECTUAL PROPERTY OWNERSHIP. For the avoidance of doubt, the parties agree that any invention, modification, creation, or design created or developed by Party B during its performance of this Agreement, and all related copyrights, trademarks, patents and all other intellectual property rights, whether registered or not, shall be owned exclusively by Party B. Where such ownership is precluded due to PRC law, Party A undertakes to sign any documents and take, or cause to be taken, any other action necessary, to effect the complete and irrevocable assignment of the said ownership rights to Party B.
Intellectual Property Ownership: The results of any work provided under this Agreement and any deliverables under this Agreement conceived or reduced to practice by Company in the course of performing consulting services hereunder (the “Intellectual Property”), shall be the sole and exclusive property of Client and shall be a “work for hire” under the copyright laws of the United States.
AbbVie’s control over the clinical development of product candidates and its exclusive intellectual property ownership of intellectual property developed under the collaboration also do not make the Company’s business substantially dependent on the Research Agreement. This control and ownership are limited to ABBV-157 and do not restrict the Company’s ongoing clinical development activities, which are primarily focused on its lead product candidates lanifibranor and odiparcil, nor do they limit future potential revenue from these lead product candidates.
Reversion of Intellectual Property Ownership of Works Made for Hire. Except as otherwise specified in this Agreement, in the event of termination of this Agreement due specifically to Client insolvency, all Client ownership rights in the Technologies delievered as Works Made for Hire under this Agreement shall revert to Developer. Any license agreements granted by Client prior to such termination shall remain in full force and effect, with the Client licensee becoming a direct licensee (“Reverted Licensee”) of Developer. In the event that a Client sublicensee becomes a Reverted Licensee under this section, Developer shall retain the right to receive and collect all payments and fees due under that license from the Reverted Licensee. Developer agrees to pay any outstanding portions of payments invoiced prior to termination of this Agreement that were originally due Client and that are recorded on Client’s balance sheet as outstanding Accounts Receivable to Client. Developer shall make timely reporting of Reverted Licensee payments received and also maintain appropriate records as required hereunder showing the distribution of the outstanding payments between Developer and Client. Developer further agrees that such reversion of intellectual property ownership rights as specificed under this clause will constitute “payment in full” for any outstanding and unbilled invoices owed to Developer by Client at the time termination of the Agreement.
Intellectual Property Ownership SPCP (and its affiliated entities, where applicable) shall retain all right, title, and interest, including all related Intellectual Property Rights, in and to the SPCP Technology, the Content and the Service and any suggestions, ideas, enhancement requests, feedback, recommendations, or other information provided by Customer or any other party relating to the Service. This Agreement is not a sale or license and does not convey to Customer any rights of ownership in or related to the Service, the SPCP Technology or the Intellectual Property Rights owned by SPCP. SPCP’s name, SPCP’s logo, and the product names associated with the Service are trademarks of SPCP or third parties, and no right or license is granted to use them.
Intellectual Property Ownership. All right, title and interest, including all intellectual property rights, in and to AlphaMeld®, including the Algorithms incorporated therein, and the Documentation are and will remain exclusively owned by InveniAI, its licensors and their respective successors and assigns subject to Section 2.5. All right, title and interest, including all intellectual property rights in and to the Invea Material are and will remain exclusively owned by Invea, its licensors and their respective successors and assigns.
Intellectual Property (IP) Ownership refers to the legal rights and control that an individual or entity holds over creations of the mind, which can include inventions, literary and artistic works, designs, symbols, names, and images used in commerce. These rights allow the owner to protect their creations from unauthorized use by others, thus enabling them to benefit commercially from their work.
Types of Intellectual Property include:
You should consider asserting Intellectual Property Ownership when:
Example:
A tech startup should apply for a patent when developing a unique software algorithm to ensure competitors cannot legally use the same process.
Writing about Intellectual Property Ownership involves clearly defining the creator’s rights and detailing the scope of protection. This is often done through formal documentation such as IP agreements or registrations.
Steps to document IP Ownership include:
Example:
“The creator retains exclusive rights to their copyright and any reproduction must be authorized in writing.”
Contracts that typically contain details about Intellectual Property Ownership include:
Example:
“In a licensing agreement for a software product, the owner grants specific rights to the licensee to use the software, while retaining ownership of the intellectual property.”
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Dive deeper into the world of clauses and learn more about these other clauses that are used in real contracts.
The intellectual property clause in a contract defines the ownership rights and usage conditions for any creations, inventions, or proprietary information that are developed, exchanged, or used during the course of the agreement. It typically outlines whether the intellectual property rights are retained by the creator, transferred to another party, or shared among parties, detailing any limitations and obligations associated with these rights.
The "Interruption of Services" clause outlines the conditions and responsibilities associated with temporary or permanent disruptions in the provision of services outlined in a contract. It typically includes information on notification requirements, potential remedies, and liability limitations for the parties involved when service interruptions occur.
The "intuitu personae" clause emphasizes the personal nature of a contractual relationship, indicating that the contract has been entered into specifically because of the individual qualities or characteristics of the parties involved. Such a clause often restricts the ability to transfer or assign rights and obligations to third parties without consent, as the identity and personal attributes of the involved parties are crucial to the contract's intent.
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