Common use of LICENSING OPTION Clause in Contracts

LICENSING OPTION. In the event that the Application for the Joint Invention is filed in any jurisdiction, the Partner has the exclusive option to elect from the following licenses by notifying in writing to the University within a certain period after the filing date for such Application as set forth in Article 16 (the “Option Period”). The University and the Partner shall enter into the license agreement after the discussion of the commercially reasonable terms and conditions within three (3) months after exercise of the option. a non-exclusive, non-transferable, royalty-bearing license without the right to sub-license (in a designated field of implementation), the Partner to implement the Joint Intellectual Property Rights for the Joint Invention in Japan and/or any other countries selected by the Partner; or an exclusive, non-transferable, royalty-bearing license with the right to sub-license (in a designated field of implementation), the Partner to implement the Joint Intellectual Property Rights for the Joint Invention in Japan and/or any other countries selected by the Partner.

LICENSING OPTION. In the event that the Application for the Joint Invention is filed in any jurisdiction, the Partner has the exclusive option to elect from the following licenses by notifying in writing to the University within a certain period after the filing date for such Application as set forth in Article 16 (the “Option Period”). The University and the Partner shall enter into the license agreement after the discussion of the commercially reasonable terms and conditions within three (3) months after exercise of the option. . A. a non-exclusive, non-transferable, royalty-bearing license without the right to sub-license (in a designated field of implementation), the Partner to implement the Joint Intellectual Property Rights for the Joint Invention in Japan and/or any other countries selected by the Partner; or B. an exclusive, non-transferable, royalty-bearing license with the right to sub-license (in a designated field of implementation), the Partner to implement the Joint Intellectual Property Rights for the Joint Invention in Japan and/or any other countries selected by the Partner.

LICENSING OPTION. In the event that the Application for the Joint Invention is filed in any jurisdiction, the Partner has the exclusive option to elect from the following licenses by notifying in writing to the University Institute within a certain period after the filing date for such Application as set forth in Article 16 (the “Option Period”). The University Institute and the Partner shall enter into the license agreement after the discussion of the commercially reasonable terms and conditions within three (3) months after exercise of the option. . A. a non-exclusive, non-transferable, royalty-bearing license without the right to sub-license (in a designated field of implementation), the Partner to implement the Joint Intellectual Property Rights for the Joint Invention in Japan and/or any other countries selected by the Partner; or B. an exclusive, non-transferable, royalty-bearing license with the right to sub-license (in a designated field of implementation), the Partner to implement the Joint Intellectual Property Rights for the Joint Invention in Japan and/or any other countries selected by the Partner.