Intellectual Property Clause

July 25, 2010

This is a sample of Intellectual Property Clause that could be inserted in Memorandum of Understanding ” MOU ” , Pre Bid agreement etc.

Any and all Intellectual property vested in each party prior to the commencement of this Agreement in such party, and any other intellectual property generated by either party in the performance of this agreement shall vest in the generating Party. If Intellectual property is developed by the parties jointly it shall be owned by the Party primarily responsible for it’s generation. If it is unclear who is primarily responsible for its generation then it shall be owned jointly by the parties in equal share.

Above shall be applicable as part of the contracts with reference to the Intellectual Property Clause. We hope that it could help you finalized your contract agreement.

Written by admin · Filed Under Contracts, Others

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