Common use of Invention Assignments Clause in Contracts

Invention Assignments. To the extent permissible under Applicable Laws, all employees of each Party or its Affiliates performing activities under this Agreement shall be under an obligation to assign all right, title and interest in and to their inventions and other Ovid Know-How or Takeda Know-How, as applicable, whether or not patentable, and intellectual property rights therein, to such Party or its Affiliate(s) as the sole owner thereof. Neither Party shall have any obligation to contribute to any remuneration of any inventor employed or previously employed by the other Party or any of its Affiliates in respect of any such inventions, Ovid Know-How, Takeda Know-How and discoveries and intellectual property rights therein that are so assigned to such other Party or its Affiliate(s). Each Party will pay all such remuneration due to such inventors with respect to such inventions and other Ovid Know-How or Takeda Know-How, and intellectual property rights therein.