Common use of Ownership of Inventions Disclosure Clause in Contracts

Ownership of Inventions Disclosure. Each Party shall retain all of its rights, title and interest in and to any Intellectual Property it owns as of the Effective Date, including the right to transfer or license such Intellectual Property to others for any purpose, subject only to its obligations under this Agreement. All right, title and interest in and to all Intellectual Property made solely by personnel of a Party after the Effective Date shall be owned by such Party. All right, title and interest in and to all Intellectual Property made jointly by personnel of ASLAN and Array after the Effective Date shall be jointly owned by ASLAN and Array, subject to any applicable licenses and payment and other terms or obligations set forth in this Agreement. Inventorship shall be determined in accordance with the patent laws of the United States. Except as expressly provided in this Agreement, neither Party shall have any obligation to obtain any consent of the other Party to license or exploit patented jointly-owned subject matter, by reason of joint ownership thereof, and each Party hereby waives any right it may have under the laws of any jurisdiction to require any such consent; except as otherwise provided in this Agreement, any profits resulting from such licensure or exploitation shall be split equally by the Parties.

Ownership of Inventions Disclosure. Each Party and its Affiliates shall retain all of its rights, title and interest in and to any Intellectual Property technology it owns as of the Effective Date, including the right to transfer or license such Intellectual Property intellectual property to others for any purpose, subject only to its obligations under this Agreement. All right, title and interest in and to all Intellectual Property inventions made solely by personnel of a Party after the Effective Date or its Affiliate shall be owned by such PartyParty or its Affiliate. All right, title and interest in and to all Intellectual Property inventions made jointly hereunder by personnel of ASLAN Amgen and Array after the Effective Date shall be jointly owned by ASLAN Amgen and Array, subject to any applicable licenses and payment and other terms or obligations set forth in this Agreement. Inventorship shall be determined in accordance with the patent laws Law of the United States. Except as expressly provided in this Agreement, neither Party nor any of its Affiliate shall have any obligation to account to the other for profits, or to obtain any consent of the other Party or its Affiliates to license or exploit patented jointly-owned subject matter, by reason of joint ownership thereof, and each Party Party, on behalf of itself and its Affiliates, hereby waives any right it may have under the laws Law of any jurisdiction to require any such consent; except as otherwise provided in this Agreement, any profits resulting from such licensure consent or exploitation shall be split equally by the Partiesaccounting.