Intellectual Property Rights Clause Example from Business Contracts

Intellectual Property Rights. (a) Advisor agrees that any and all inventions, trade secrets, ideas, data, programs, works of authorship, know-how, improvements, processes, discoveries, designs, techniques, and related information (collectively, "Inventions"), whether or not patentable or copyrightable, that the Advisor conceives or perfects: (1) as part of performing Services for the Company under this Agreement or (2) using the Company's Confidential Information (collectively, the "Company Work Product") shall be the sole a...nd exclusive property of the Company. Advisor hereby assigns and agrees to assign to the Company his or her entire right, title and interest, including all intellectual-property rights, in and to such Company Work Product. (b) Advisor agrees to execute, when requested, any documents deemed reasonably necessary by the Company to carry out the purposes of this Agreement. Advisor further agrees to assist the Company in every proper way to obtain, and from time to time enforce, United States and foreign patent and other intellectual property rights relating to Company Work Product including executing, verifying and delivering such documents and performing such other acts as the Company may reasonably request from time to time in applying for, obtaining, perfecting, sustaining, defending, and enforcing such rights and the assignment thereof. Advisor's obligation to assist the Company as described herein shall continue beyond the termination of this Agreement, provided that the Company shall compensate Advisor at a reasonable rate after termination of this Agreement for time Advisor actually spends performing the obligations described herein. -2- CONFIDENTIAL (c) If the Company is unable, after reasonable effort, to secure Advisor's signature on any document needed to apply for, obtain, perfect, sustain, defend, or enforce any patents or other intellectual property rights relating to Company Work Product, Advisor hereby designates and appoints the Company and its duly authorized officers and agents as his or her agent and attorney in fact, with full power of substitution, to execute, verify and file applications and to do all other lawfully permitted acts necessary to apply for, obtain, perfect, sustain, defend, or enforce such rights with the same legal force and effect as if executed by Advisor. Such power of attorney shall be deemed coupled with an interest. (d) Advisor agrees to submit to the Company any proposed publication that contains any discussion relating to the Company, Confidential Information, Inventions, Company Work Product or work performed by Advisor for the Company hereunder. Advisor further agrees that no such publication shall be made without the prior written consent of the Company. View More