Common use of Assignment of Ownership Clause in Contracts

Assignment of Ownership. Consultant hereby irrevocably transfers and assigns any and all of Consultant’s right, title, and interest in and to Designs and Materials, including but not limited to all patent rights, copyrights, trademarks and trade secrets, to the Company. Designs and Materials will be the sole property of the Company and the Company will have the sole right to determine the treatment of any Designs and Materials, including the right to keep them as trade secrets, to file and execute patent applications on them, to use and disclose them without prior patent application, to file registrations for copyright or trademark on them in its own name, or to follow any other procedure that the Company deems appropriate. Consultant will: (i) disclose promptly in writing to the Company all Designs and Materials (ii) cooperate with and assist the Company to apply for, and to execute any applications and/or assignments reasonably necessary to obtain, any patent, copyright, trademark or other statutory protection for Designs and Materials in the Company’s name as the Company deems appropriate, provided that the Company will reimburse Consultant any reasonable costs incurred by Consultant, and Consultant’s normal billing rate for reasonable time incurred, in connection therewith; and (iii) otherwise treat all Designs and Materials as “Confidential Information,” as defined below. The obligations of Consultant to so disclose, assist, and execute will survive until the earlier of five years following any expiration or termination of this Agreement, or Consultant’s death or disability.