Development Commercialization. Company wishes to evaluate the Technology with a view to potentially developing it into a commercial product. University acknowledges that Company has many opportunities to evaluate technologies (both on its own and in connection with others) and in many cases decides to not develop, to discontinue development, to not commercialize, or to discontinue commercialization of a product incorporating particular intellectual property rights. AS A RESULT, UNIVERSITY ACKNOWLEDGES AND AGREES THAT COMPANY HAS NO OBLIGATION TO DEVELOP OR COMMERCIALIZE A PRODUCT THAT INCORPORATES ANY LICENSED RIGHTS DURING THE TERM OF THE OPTION.
Appears in 2 contracts
Sources: Option Agreement, Option Agreement