Exploitation of Foreground Sample Clauses
The Exploitation of Foreground clause defines how newly created intellectual property ("Foreground IP") resulting from a project or collaboration may be used, licensed, or commercialized by the parties involved. Typically, this clause outlines which party owns the Foreground IP, the rights each party has to use or exploit it, and any obligations regarding revenue sharing or further development. Its core practical function is to allocate rights and responsibilities over new inventions or works, ensuring clarity and preventing disputes over the use and commercialization of jointly developed assets.
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Exploitation of Foreground. Subject to Section 8.5 and 8.6, each Party shall have the right to exploit such Foreground solely owned by it, and each owner of joint Foreground shall be entitled to use the jointly owned Foreground, unless otherwise agreed in a joint ownership agreement to be concluded between the joint owners before any exploitation of Foreground takes place: for non-commercial purposes such as academic research and third party research, as well as training and teaching activities, on a royalty-free basis, and without requiring the prior consent of the other joint owner(s); and to grant nonexclusive licences to third parties (without any right to sublicense) for commercial purposes, if the other joint owners are given (i) at least 45 (forty-five) days advance notice and (ii) fair and reasonable compensation taking into account each joint owner’s relative intellectual contribution to the joint Foreground.
Exploitation of Foreground. Subject to Sections 8.5 and 8.6, each Participant shall have the right to exploit such Foreground solely owned by it. Further subject to Sections 8.5 and 8.6, each Participant that owns joint Foreground shall be entitled to use the jointly owned Foreground, unless otherwise agreed in a joint ownership agreement to be concluded between the joint owners before any exploitation of Foreground takes place, for the following purposes: for non-commercial purposes such as academic research and third party research, as well as training and teaching activities, on a royalty-free basis, and without requiring the prior consent of the other joint owner(s); and to grant nonexclusive licences to third parties (without any right to sublicense) for commercial purposes, if the other joint owners are given (i) at least 45 (forty-five) calendar days advance notice and (ii) fair and reasonable compensation taking into account each joint owner’s relative intellectual contribution to the joint Foreground.
Exploitation of Foreground. (Article 34 of the FPA)
Exploitation of Foreground. Subject to the provisions of Sections 8.6 - 8.8, each Participant shall have the right to exploit such Foreground solely owned by such Participant. Each Participant that owns jointly held Foreground shall be entitled to use the jointly owned Foreground, whereas each of such Participants may agree otherwise before any exploitation of jointly held Foreground takes place, in the Parallel Research Agreement as referred to in Section 8.10 or in a joint ownership agreement.