Common use of Collaboration IP Clause in Contracts

Collaboration IP. Subject to the licenses granted in ARTICLE III, as between the Parties: (a) Jazz will own all right, title and interest in and to any Jazz Collaboration IP. (b) Codiak will own all right, title and interest in and to any Codiak Collaboration IP. (c) Jazz and Codiak will jointly own, with each having an undivided one-half interest, all right, title and interest in and to any Joint Collaboration IP. Subject to the exclusive licenses to Jazz and its Affiliates under Section 3.1, each Party will have the right to Exploit the Joint Collaboration IP for all purposes, and to grant licenses and other rights to Affiliates and Third Parties to Exploit the Joint Collaboration IP for all purposes, provided that neither Party or its Affiliates shall grant any such license or other rights to Third Parties without prior written consent from the other Party.