Common use of Technology Development Clause in Contracts

Technology Development. 1.1. As requested by Party B, Party A will research and develop the relevant technologies in accordance with Party B’s business needs. Party B shall actively cooperate with Party A to facilitate the aforesaid work. 1.2. Party A shall complete the research and development on the relevant technologies within the period as agreed and the work product shall meet the standard as provided by Party B. 1.3. The technology achievements developed by Party A, including the intellectual properties such as patent and copyright shall be owned by Party A. Without the prior written consent of Party A, Party B is not entitled to apply for or by any means license the patent or copyright etc. to a third party. 1.4. During the valid term of this Agreement, with respect to each specific technology development project, the Parties will separately enter into a Technology Development (Services) Agreement to stipulate provisions including the specific project requirement, development progress, provision of the data, budget and compensation for the development project, events of default, etc. The execution and provisions of such Technology Development (Services) Agreement will be subject to the provisions of this Agreement. 1.5. The Parties hereby confirm that each of the Technology Development (Services) Agreement as set forth in the Schedule 1 to this Agreement was executed for the purpose of the performance of this Agreement and is in accordance with the purpose of this Agreement and subject to the provisions of this Agreement.