Collaboration IP. Each Party will promptly disclose to the other Party in writing, any discovery, invention or creation made in the performance of activities under the Agreement (“Collaboration Know-How”). Inventorship of any Patent Rights that claim or cover Collaboration Know-How (“Collaboration Patents”) and together with the Collaboration Know-How, the (“Collaboration IP”)will be determined in accordance with United States patent laws and ownership will follow inventorship. Subject to any rights or licenses expressly granted under this Agreement, neither Party will have any obligation to account to the other for profits with respect to, or to obtain any consent of the other Party to license or exploit its rights in Collaboration IP, and each Party hereby waives any right it may have under the laws of any jurisdiction to require such consent or accounting.
Appears in 3 contracts
Sources: Research Collaboration, Option and License Agreement (Praxis Precision Medicines, Inc.), Research Collaboration, Option and License Agreement (Praxis Precision Medicines, Inc.), Research Collaboration, Option and License Agreement (Praxis Precision Medicines, Inc.)