Common use of Ownership of New Inventions Clause in Contracts

Ownership of New Inventions. Any new invention, development or discovery relating to the Field or New Prostate Markers for the Field conceived, made or reduced to practice by either party as part of the Collaboration, the FDA Submission Plan or with the use of Materials of the other party (each a “New Invention”) shall be promptly disclosed in writing to the other party. Each party shall retain sole ownership in each Invention made solely by that party.

Appears in 2 contracts

Sources: License Agreement (Health Discovery Corp), License Agreement (Health Discovery Corp)