Common use of Collaboration Joint Intellectual Property Clause in Contracts

Collaboration Joint Intellectual Property. CYPRESS will have the first right, using in-house or outside legal counsel selected by CYPRESS at its sole discretion, to prepare, file, prosecute, maintain and extend patent applications and patents included in the COLLABORATION JOINT INTELLECTUAL PROPERTY in countries selected by mutual agreement of CYPRESS and OREXIGEN. OREXIGEN and CYPRESS will equally bear all costs relating to such activities. CYPRESS will solicit OREXIGEN’s advice and review of such patent applications and all substantive prosecution actions, and CYPRESS will take into consideration OREXIGEN’s advice thereon. If CYPRESS elects not to prepare, file, prosecute or maintain certain of such patent applications or patents or certain claims encompassed within such patent applications or patents, in one or more countries, CYPRESS will give OREXIGEN notice thereof within a reasonable period prior to allowing such patent applications, patents or claims to lapse or become abandoned or unenforceable, and OREXIGEN will thereafter have the right, at its sole expense and discretion, to prepare, file, prosecute and maintain such patent applications and patents in such one or more countries and furthermore, CYPRESS shall take all actions to have such rights assigned to OREXIGEN.