Agreement Intellectual Property Clause

Retain ownership of the licensed intellectual property rights. [PART A] retains all shares and ownership of the licensed intellectual property, with the exception of the rights granted [to PARTY B] in the “License Grant” section. The use of the intellectual property licensed by [PART B] and the accumulated goodwill shall be for the exclusive benefit of [PART A]. The intellectual property clause deals with intellectual property under the agreement, including the existing intellectual property of each party. In this article, which is the second in the two-part series on intellectual property transfer, we discussed how different clauses should be formulated in an IP transfer contract. There are several ways to structure these agreements, but it is important to consider the intention of the parties and the extent of the rights to be granted. Likewise, rights must be granted in such a way as to allow for the full and correct use of intellectual property. . . .