Common use of Exercise of License Option Clause in Contracts

Exercise of License Option. The option of Article 8.1 must be exercised by written notice mailed within six months after the patent or other intellectual property application is filed. Exercise of this option by the Collaborator initiates a negotiation period that expires six months after the patent application filing date. If NGA has not

Exercise of License Option. The option of Article Article 8.1 must be exercised by written notice mailed within six months after the patent or other intellectual property application is filed. Exercise of this option by the Collaborator initiates a negotiation period that expires six months after the patent application filing date. If NGA has notnot responded in writing to Collaborator’s last proposal within this six month period, the negotiation period shall be extended to expire one month after NGA responds. If no Agreement is concluded in this period or if Collaborator exercises its option for a non- exclusive license, NGA shall be free to license such Subject Inventions to others.