(...hear Jim Carry's voice from "The Mask"...) "SSSomebody SSStop MMeee!!"
(continues...)
ARTICLE II - LICENSE
2.1 Grant of License. Licensor herewith grants to Licensee an exclusive, worldwide License to use, market, and to otherwise fully commercialize the Licensed Technology in connection with the exploration for and production of hydrocarbons and hard-rock minerals; provided, however, that nothing in this License Agreement shall be so construed as to prohibit Licensor from using the Licensed Technology for its own account in ventures in which it is directly involved or indirectly through a wholly-owned subsidiary.
2.2 Sublicensing. Licensee shall have the right under this License Agreement to grant sublicenses to any party subject to the approval of such sublicense by the Licensor, which approval shall not be unreasonably withheld. Any sublicense shall contain substantially the same terms and conditions as are contained in this License Agreement, except that the Licensee shall have the right to be more restrictive in any sublicense than would be the case hereunder. Any sublicense shall also provide that royalties reserved to the Licensor hereunder shall be paid directly to the Licensor and shall preserve to Licensor the audit and reporting rights set forth below. There shall be no provision in any sublicense which could in any way dilute or other wise deprive or attempt to reduce the royalty reserved to the Licensor hereunder. Each sublicense shall specifically recognize the Licensee's obligation of royalty payments to the Licensor under this License Agreement. In the event that the License granted to the Licensee hereunder shall be terminated for any reason, the Licensor shall recognize any sublicense granted pursuant to the provisions of this License Agreement and shall assume the position of the Licensee in any such sublicense.
2.3 Licensor's Rights to Improvements- Licensee shall assign or otherwise transfer to Licensor all rights in and to any improvements, extensions, expansions, betterments, developments, updates, upgrades, refinements, or new products related to, incorporating, or which might read upon or infringe any aspect of the Licensed Technology which it might make, invent, or develop, but the use and commercialization thereof by Licensee within the confines of this License Agreement shall continue to be covered by and included within the scope of this License Agreement. The parties shall cooperate in obtaining any additional patents, copyrights, or other intellectual property protection available for any such additions to the intellectual property subject to this License Agreement, and any such new patents, copyrights, or other matters covered by intellectual property protection methods shall be the property of the Licensor and the Licensee in equal shares and shall be included within the definition of Licensed Technology.
2.4 Abandonment of Patent. Should Licensor desire to abandon any specific patent application or patent included within the scope of the Licensed Technology, Licensor shall timely notify Licensee in writing, and the Licensee may thereafter and at its own cost, risk, and expense assume control of the continued prosecution or maintenance of the patent application or patent to be abandoned and shall thereafter be entitled to all of the benefits thereof.
(...ends) (for now...)
Away, Away... to lurk again another day... John.
PS - As always, the previous material is for entertainment purposes only. And don't try this at home kids! |
