Common use of Improvements, Inventions and Innovations Clause in Contracts

Improvements, Inventions and Innovations. All rights in any improvements, inventions, and innovations made solely by Reliance shall vest in Reliance, and Reliance shall have the right to exploit such improvements, inventions, and innovations. All rights in any improvements, inventions and innovations made solely by the Vendor shall vest in the Vendor, and the Vendor shall have the right to exploit such improvements, inventions and innovations. All rights in any improvements, inventions and innovations made by the substantial contribution of both Parties (“Joint Improvement”) shall vest jointly in both parties. Joint Improvement does not include Custom Work Software or any underlying information owned by one of the parties prior to commencement of such joint activities or developed beyond the scope of such joint activities, including Products and Product information, technical information or inventions developed prior to the commencement of any joint activities, developed outside of the scope of such joint activities or developed solely by either Party. The rights of joint ownership to such Joint Improvement shall be rights of full non-exclusive worldwide ownership, including rights to license and transfer. Each Party may exploit its rights to the Joint Improvement independent of the other and may retain all economic benefits thereof, neither Party shall have any obligation to account to the other for profits derived from the Joint Information and each Party shall have full rights to enforce the Joint Information intellectual property rights against non-authorized users.