Common use of Intellectual Property Rights of the Parties Clause in Contracts

Intellectual Property Rights of the Parties. Neither Party shall have any claim by virtue of this Agreement or the Project to any right, title or interest in any Invention, Trade Secret or Patent Rights (defined below) or any other intellectual property rights issued to, owned or controlled by the other Party (a) prior to the date hereof, or (b) after the date hereof except a New Invention, Trade Secrets or Patent Rights arising out of the Project and as specifically set forth in Section 13 below.

Intellectual Property Rights of the Parties. Neither Party shall have any claim by virtue of this Agreement or the Project to any right, title or interest in any Invention, Trade Secret or Patent Rights (defined below) or any other intellectual property rights (a) issued to, owned or controlled by the other Party (a) prior to the date hereof, or (b) after the date hereof except a New Inventionany new Inventions, Trade Secrets or Patent Rights arising out conceived and reduced to practice, constructively or actually in the performance of the Project and as specifically set forth in Section 13 below.