Other Patents. Should the Licensor file any additional patent applications, the Licensee, at its option, may elect to pay the attorney fees, filing fees and all other fees associated with any new patent application in exchange for a 9 year exclusive licensing agreement of said patent. An exclusive licensing agreement incorporating the exact same terms and conditions as written herein will be considered entered into as of the date the new patent is issued. Patent Taxes and Assessments. All taxes, annuities, and assessments on the patents covered in this agreement shall be paid by the Licensee.
Appears in 2 contracts
Sources: Exclusive License Agreement (Micro Interconnect Technology Inc), Exclusive License Agreement (Micro Interconnect Technology Inc)