Common use of Prosecution and Maintenance; Sole Inventions Related to E Technology Clause in Contracts

Prosecution and Maintenance; Sole Inventions Related to E Technology. Each Party shall have sole right, at its option, to control the filing for, prosecution and maintenance of any Intellectual Property Rights that claim or disclose inventions that the Party solely owns, subject to the following. To the extent that VentureCo elects not to file, prosecute or maintain any Intellectual Property Right relating to VentureCo's solely-owned Intellectual Property Rights relating to the E IP provided under this Agreement, or pay any fee related thereto, VentureCo shall notify E, and E shall have the right, at its option, to control the filing, prosecution and/or maintenance of any such Intellectual Property Right, and VentureCo, at E's written request, shall transfer and assign all of its right, title and interest to such Intellectual Property Right to E. In the event of such transfer, VentureCo retains a world-wide, non-exclusive, non-transferable, perpetual, irrevocable, royalty-free, sublicensable license of such transferred Intellectual Property Rights.