Common use of Ownership, Title and Risk Clause in Contracts

Ownership, Title and Risk. 3.1 Title to Goods will pass to the Purchaser on receipt of payment in full for those Goods. 3.2 Risk in the Goods shall pass to the Purchaser on delivery of the Goods to the Purchaser’s premises. 3.3 The Purchaser and the Supplier shall retain ownership of any intellectual property that each owned as at the date of entering into this Agreement and thereafter. Where the Supplier supplies any item of intellectual property in accordance with this Agreement it shall, unless explicitly stated otherwise, remain the owner of that intellectual property. The Supplier will grant a non-exclusive, royalty free, transferable, and perpetual license to use that intellectual property for the purposes for which such license is granted.

Ownership, Title and Risk. 3.1 Title to Goods will pass to the Purchaser on receipt of payment in full for those Goods. 3.2 Risk in the Goods shall pass to the Purchaser on delivery delivery, but prior to unloading, of the Goods to the Purchaser’s premises. 3.3 The Purchaser and the Supplier shall retain ownership of any intellectual property that each owned as at the date of entering into this Agreement and thereafter. Where the Supplier supplies any item of intellectual property in accordance with this Agreement it shall, unless explicitly stated otherwise, remain the owner of that intellectual property. The Supplier will grant a non-exclusive, royalty free, transferable, transferable and perpetual license to use that intellectual property for the purposes for which such license is granted.