Common use of Patent Abandonment Clause in Contracts

Patent Abandonment. In the event Spectrum elects not to prosecute or to discontinue or abandon the prosecution and/or maintenance of any patent or patent application within the Patent Rights, any such patent or patent application shall at that time be excluded from the definition of Patent Rights and from the scope of the licenses granted under this Agreement. Spectrum shall give Indena at least sixty (60) days’ prior written notice of its election to discontinue or abandon any such patent or patent application within the Patent Rights during which time Indena may elect, in its sole discretion, to prosecute, file, continue and maintain such patent or patent application at its sole cost and expense and for its sole benefit by delivery of written notice to Spectrum. If Indena does not notify Spectrum in writing during such sixty (60) day period that it is exercising such rights, the patent or patent application shall be deemed abandoned and neither Indena nor Spectrum shall have any further responsibility for any such abandoned patent applications or patents. However, if Indena does not elect to prosecute, file, continue and maintain such patent or patent application, Spectrum may later elect to continue to prosecute and maintain such patent or patent application, in which case, the patent or patent application shall remain within the Patent Rights and License hereunder.

Patent Abandonment. In the event Spectrum elects not to prosecute or to discontinue or abandon the prosecution and/or maintenance of any patent or patent application within the Patent Rights, any such patent or patent application shall at that time be excluded from the definition of Patent Rights and from the scope of the licenses granted under this Agreement. Spectrum shall give Indena Dr. Bases at least sixty (60) days’ *** prior written notice of its election to discontinue or abandon any such patent or patent application within the Patent Rights during which time Indena Dr. Bases may elect, in its his sole discretion, to prosecute, file, continue and maintain such patent or patent application at its his sole cost and expense and for its his sole benefit by delivery of written notice to Spectrum. If Indena Dr. Bases does not notify Spectrum in writing during such sixty (60) day *** period that it is exercising such rights, the patent or patent application shall be deemed abandoned and neither Indena Dr. Bases nor Spectrum shall have any further responsibility for any such abandoned patent applications or patents. However, if Indena Dr. Bases does not elect to prosecute, file, continue and maintain such patent or patent application, Spectrum may later elect to continue to prosecute and maintain such patent or patent application, in which case, the patent or patent application shall remain within the Patent Rights and License licenses hereunder.