Common use of BNYM Ownership Clause in Contracts

BNYM Ownership. BNYM and its licensors, subcontractors and suppliers will continue to own all of their respective right, title, and interest, including Intellectual Property Rights, in and to the Licensed System and the Proprietary Items. For purposes of clarification: All modifications to any Proprietary Item, whether or not ordered or paid for by Company as a customization, are not works for hire and shall be and remain proprietary to and the exclusive property of BNYM. This Agreement is not an agreement of sale, and no title, patent, copyright, trademark, service ▇▇▇▇, trade secret, intellectual property or other ownership rights to any Proprietary Items are transferred to Company by virtue of this Agreement. Upon BNYM's request, the Company shall promptly inform BNYM in writing of the quantity and location of any tangible Proprietary Item furnished to Company in connection with this Agreement.

BNYM Ownership. BNYM and its licensors, subcontractors and suppliers will continue to own all of their respective right, title, and interest, including Intellectual Property Rights, in and to the Licensed System and the Proprietary Items. For purposes of clarification: All modifications to any Proprietary Item, whether or not ordered or paid for by Company as a customization, are not works for hire and shall be and remain proprietary to and the exclusive property of BNYM. This Agreement is not an agreement of sale, and no title, patent, copyright, trademark, service ▇m▇▇▇, trade secret, intellectual property or other ownership rights to any Proprietary Items are transferred to Company by virtue of this Agreement. Upon BNYM's request, the Company shall promptly inform BNYM in writing of the quantity and location of any tangible Proprietary Item furnished to Company in connection with this Agreement.