Common use of Jointly Owned Inventions Clause in Contracts

Jointly Owned Inventions. All Inventions which are conceived, reduced to practice, or created jointly by the parties and/or their respective agents in the course of the performance of this Agreement and which are not Client’s Intellectual Property shall be owned jointly by the parties. Each party shall have full rights to exploit such Inventions for its own commercial purposes without any obligation or duty of accounting to the other. The parties shall share equally in the cost of mutually agreed patent filings with respect to all such jointly owned Inventions. The decision to file for patent coverage on jointly owned Inventions shall be mutually agreed upon, and the Parties shall select a mutually acceptable patent counsel to file and prosecute patent applications based on such joint Inventions. If either party declines to participate in, or share the costs of, such prosecution or payment of maintenance fees for jointly-owned inventions, it shall assign its interest therein promptly to the other party.

Jointly Owned Inventions. All Inventions which that are conceived, reduced to practice, or created jointly by the parties and/or their respective agents in the course of the performance of this Agreement and which that are not Product Inventions, Client’s Project Intellectual Property or Althea’s Project Intellectual Property shall be owned jointly by the parties. Each Subject to any licenses granted herein, each party shall have full rights to exploit such Inventions for its own commercial business purposes without any obligation or duty of accounting to the other. The parties shall share equally in the cost of mutually agreed patent filings with respect to all such jointly owned Inventions. The decision to file for patent coverage on jointly jointly-owned Inventions shall be mutually agreed upon, and the Parties parties shall select a mutually acceptable patent counsel to file and prosecute patent applications based on such joint Inventions. If , provided that if either party declines to participate in, or share the costs of, such prosecution or payment of maintenance fees for jointly-owned inventionsInventions, it shall assign its interest therein promptly to the other party.