Provision Language
Definitions
Background Intellectual Property: shall mean any inventions, designs, information, know-how, specifications, formulae, data, processes, methods, techniques, and other technology of a party used in, or disclosed in connection with the performance of, the Work and the Intellectual Property Rights therein.
5. Intellectual property rights
5.1 All Background Intellectual Property belonging to one party, and any improvements thereof, shall remain the exclusive property of the party owning it (or, where applicable, the third party from whom its right to use the Background Intellectual Property has derived).
5.2 Nothing in this agreement shall operate to assign or transfer the ownership of any Intellectual Property Rights existing as of the Commencement Date.
5.3 The Results and all Intellectual Property Rights subsisting therein, or derived therefrom, whether patentable or not (Arising IPR) shall vest in the Developer.