Modifications to existing Intellectual Property Clause Samples

The "Modifications to existing Intellectual Property" clause defines how changes, improvements, or adaptations to pre-existing intellectual property (IP) are handled within an agreement. It typically specifies whether such modifications are owned by the original IP holder or if rights to the modifications are shared or transferred to another party. For example, if a contractor enhances a client's software, this clause clarifies who owns the new features or code. Its core function is to prevent disputes by clearly allocating ownership and usage rights for any enhancements made to existing IP during the course of a project or collaboration.
Modifications to existing Intellectual Property. Unless otherwise agreed in writing by the parties, any improvements, developments or modifications to: (a) your existing Intellectual Property created by, or on behalf of, either party during the term of this Agreement and all Intellectual Property therein, will vest absolutely and automatically upon creation in you; and (b) our existing Intellectual Property created by, or on behalf of, either party during the term of this Agreement and all Intellectual Property therein, will vest absolutely and automatically upon creation in us.
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Related to Modifications to existing Intellectual Property

  • Existing Intellectual Property Other than as expressly provided in this AGREEMENT, neither PARTY grants nor shall be deemed to grant any right, title or interest to the other PARTY in any PATENT, PATENT APPLICATION, KNOW-HOW or other intellectual property right owned or CONTROLLED by such PARTY.

  • License of Pre-Existing Intellectual Property Contractor grants to the Purchasing Entity a nonexclusive, perpetual, royalty-free, irrevocable, license to use, publish, translate, reproduce, transfer with any sale of tangible media or Product, perform, display, and dispose of the Intellectual Property, and its derivatives, used or delivered under this Master Agreement, but not created under it (“Pre-existing Intellectual Property”). The Contractor shall be responsible for ensuring that this license is consistent with any third-party rights in the Pre-existing Intellectual Property.

  • Pre-Existing Intellectual Property Each Party shall retain ownership of its respective Pre-Existing Intellectual Property. The Contractor grants the State a perpetual, irrevocable, non-exclusive, royalty free license for Contractor’s Pre-Existing Intellectual Property that are incorporated in the products, materials, equipment, deliverables, or services that are purchased through the Contract.

  • Intellectual Property Security Agreements Duly executed originals of Trademark Security Agreements, Copyright Security Agreements and Patent Security Agreements, each dated the Closing Date and signed by each Credit Party which owns Trademarks, Copyrights and/or Patents, as applicable, all in form and substance reasonably satisfactory to Agent, together with all instruments, documents and agreements executed pursuant thereto.

  • Intellectual Property Agreements Borrower shall not permit the inclusion in any material contract to which it becomes a party of any provisions that could or might in any way prevent the creation of a security interest in Borrower's rights and interests in any property included within the definition of the Intellectual Property Collateral acquired under such contracts.