Common use of Pre-Existing and Independently Developed Works Clause in Contracts

Pre-Existing and Independently Developed Works. Each party will retain all rights in Intellectual Property that it owned prior to the Effective Date, and Intellectual Property that it acquires from a third party or develops after the Effective Date of this Agreement outside the scope of performance of this Agreement (collectively, “Background IP”). Each party further will own any derivative works of its Background IP. "Intellectual Property" means, amongst others, inventions, designs, mask works andworks of authorship, as those terms are understood under applicable law, which are conceived or fixed in tangible form by a party.

Pre-Existing and Independently Developed Works. Each party will retain all rights in Intellectual Property that it owned prior to the Effective Date, and Intellectual Property that it acquires from a third party or develops after the Effective Date of this Agreement outside the scope of performance of this Agreement (collectively, “Background IP”). Each party further will own any derivative works of its Background IP. IP "Intellectual Property" means, amongst others, inventions, designs, mask works andworks and works of authorship, as those terms are understood under applicable law, which are conceived or fixed in tangible form by a party.