Common use of Developed Property Clause in Contracts

Developed Property. Each Seller hereby acknowledges and agrees that during such time as he was a stockholder and/or employee of the Company, any and all United States and/or foreign patents, patent applications, trademarks, service marks, inventions, discoveries, innovations, improvements, trade secrets and secret processes, whether or not patentable, which he may have conceived, developed or made, either alone or in conjunction with others, and which were used in or developed for the business of the Company or in connection with such Seller's employment with the Company (collectively "Developed Property"), have been and shall be fully disclosed to the Company and Buyer, and are the sole and exclusive property of the Company and, upon Closing, shall be the sole and exclusive property of Buyer, whether or not disclosed, as against the Founder or such Employee Seller, as the case may be. The Founder and each Employee Seller hereby unconditionally and irrevocably assigns to Buyer any and all right, title and interest in and to such Developed Property and hereby irrevocably and unconditionally waives any rights in or to such Developed Property.

Developed Property. Each Founder and Employee Seller hereby acknowledges and agrees that during such time as he was a stockholder and/or employee of the CompanyCompany and thereafter, if applicable, during his employment with Buyer, any and all United States and/or foreign patents, patent applications, trademarks, service marks, inventions, discoveries, innovations, improvements, trade secrets and secret processes, whether or not patentable, which he may have conceived, developed or made, or may conceive, develop or make, either alone or in conjunction with others, and which were or will be used in or developed for the business of the Company or in connection with such Seller's employment with the Company Buyer (collectively "Developed Property"), have been and shall be fully disclosed to the Company and Buyer, and are the sole and exclusive property of the Company and, upon Closing, shall be the sole and exclusive property of Buyer, whether or not disclosed, as against the each Founder or such and/or Employee Seller, as the case may be. The Each Founder and each Employee Seller hereby unconditionally and irrevocably assigns to Buyer any and all right, title and interest in and to such Developed Property and hereby irrevocably and unconditionally waives any rights in or to such Developed Property.