Provision Language
Definitions
“Wellcome-funded IP” intellectual property that is, or has been, created, exemplified or developed (whether in whole or in part) from the Grant Activities. Unless specified otherwise in the Award Letter, ‘Wellcome-funded IP’ does not include the copyright in articles, scientific papers, lectures or audio or visual aids to the giving of lectures or teaching.
8. Intellectual property (IP) and its commercialisation
8.1. You must follow reasonable procedures for the identification, protection, management and commercialisation of Wellcome-funded IP in line with our Intellectual Property policy, particularly where the Grant Activities involve collaboration with, or the contribution(s) of, third parties. You must also ensure (subject to condition 8.2 below) that all Participants assign all Wellcome-funded IP to you.
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8.4. If you do not protect, manage or commercialise any Wellcome-funded IP to our reasonable satisfaction, then we will have the right by giving you six months’ written notice to protect, manage and commercialise the Wellcome-funded IP on your behalf. We may exercise this right sooner where we reasonably consider that the opportunity to protect, manage or commercialise the Wellcome-funded IP for the public benefit could be lost if more immediate action is not taken. You agree to do, and will ensure that the Grantholder and any Participants and Organisations do, all acts required to assist us in such protection, management and commercialisation.