Common use of Program Intellectual Property Clause in Contracts

Program Intellectual Property. Any and all Program Intellectual Property shall be owned jointly by the Parties, and, subject to the license granted to Audentes under Section 4.2, each Party shall be free to exploit any such Program Intellectual Property. Subject to the license granted to Audentes under Section 4.2, neither Party shall have any obligation to account to the other for profits, or to obtain any approval of the other Party to license out or exploit patented jointly-owned subject matter, by reason of joint ownership thereof, and each Party hereby waives any right it may have under the laws of any jurisdiction to require any such consent or accounting, and further agrees to execute any documents and instruments as may be required under such laws in order to permit the other Party to exploit its rights in any Program Intellectual Property in accordance with this Section 8.1(b).