University Invention definition
Examples of University Invention in a sentence
If PARTICIPANT and University fail timely to agree upon the terms and conditions upon which University would grant to PARTICIPANT a license under any University Invention, then University shall have no further obligation to PARTICIPANT with respect to such University Invention pursuant to this Section.
The University shall notify the Partner promptly after having made the University Invention, and may file an Application, after considering the Partner’s request to do so, at its own discretion for such University Invention.
In the event that the Application for the University Invention is filed in any jurisdiction, the Partner has the exclusive option to elect from the following licenses by notifying in writing to the University within the Option Period.
Except as provided in Section 1.10, the Company may for a period of sixty (60) days after the Company's receipt of the Invention Notice elect to seek patent protection for any University Invention or Selected Invention with respect to which it negotiates a license.
In the event that the Company and the University determine to enter into a license negotiation with respect to a University Invention or Selected Invention, the University and the Company will begin such negotiations using the general license form attached hereto as Exhibit A but further negotiation between the parties will be unrestricted.
The Center Faculty will promptly notify the Office of Technology Licensing of the University's School of Medicine (the "Licensing Office") in writing of any University Invention or Selected Invention (the "Invention Notice").
In consideration of Sponsor’s support of the Research, University hereby grants to Sponsor an irrevocable fully paid-up, non-royalty bearing, worldwide non-exclusive license with the right to sublicense, any patent, copyright or other intellectual property right associated with any University Invention, including the right to practice the University Invention and the right to make, have made, use, import, offer for sale and sell products and processes covered by the University invention.
During such Option period, in the event University does not intend to file a patent for protection of the University Invention, then upon Company’s request, University agrees to file patent application(s) of such University Invention provided that Company shall bear all costs for such filing and reimburse University for its reasonable costs related thereto.
The University also grants to Sponsor a 6-month Exclusive Option Period to any University Invention or to University’s interest in any Joint Invention, which option shall expire six (6) months after University has provided written notice to Sponsor of any such University Invention or Joint Invention (“Option Period”).
In the event an exclusive license is not executed within six (6) months from the exercise of the option, or the option is not exercised within the Option Period, then subject to the non-exclusive license in 10.4, University shall be free to license the University Invention or the University’s interest in any Joint Invention to others, at the University’s sole discretion with no further obligation to the Sponsor.