Provision Language
4) Economic Terms of Definitive IIA. The Institutions expect to share net consideration under the Definitive IIA in proportion to each Institution’s Share of Net Consideration set forth in the table above. Net consideration means gross license revenue minus any unreimbursed patent expenses and, if any, the administrative fee set forth in the table above. If the Joint Inventions are licensed together with other joint or sole intellectual property of the Parties, the Parties shall negotiate in good faith to determine whether the share of net consideration should be altered to take into account the inclusion of such additional intellectual property in the license. In addition, the Parties agree to renegotiate the sharing of net consideration and patent expenses if there are material changes in circumstances, including but not limited to a determination by: outside patent prosecution counsel, or the Institutions jointly and in good faith, that the named inventors identified in the table above need to be changed.