Common use of Possession of Materials Clause in Contracts

Possession of Materials. Producer and IPG agree that for the purpose of ownership pursuant to Section 201 of the U.S. Copyright Act (but not for tax or any other purposes), the Pilot and the Series, the individual Programs and all associated film footage, and all elements thereof and relating thereto including, without limitation, concepts, outlines, development materials, treatments, scripts, characters, titles, stills, original music, out takes and research materials, shall be considered works created by Producer. IPG acknowledges that under the terms of such arrangement, all such materials, all elements thereof and all rights relating thereto are the sole and exclusive property of Producer, its successors and assigns, absolutely, for all copyright terms and renewal terms thereof throughout the world, and for all uses and purposes whatsoever. Producer will not allow any liens or encumbrances to accrue against the Pilot, the Series, the individual Program, or any of the elements thereof which may have a negative impact on IPG's rights hereunder. IPG will have the right to exhibit, license, distribute, sub- distribute and sell the Pilot, the Series, the individual Programs and the elements thereof and to exploit all rights therein (including, without limitation, publishing rights, music rights, and home video and interactive rights) as set forth above in this agreement.