Executives. Executive officials strive, in good faith, to resolve the issues put to them as soon as possible, and any final decision that executive officials will approve in writing will be consistent and binding on the parties. If executive officials are unable to reach agreement on an issue referred to them within a period of time after the matter has been referred to this point (or at a longer time frame on which executive officials can agree), Janssen has the final decision-making power over that decision, including any update to a research plan or research budget, provided Janssen cannot exercise this final decision-making power with respect to: 3.7.2. Effects of exercise ROFN. If Janssen does so after receiving the ROFN exercise communication by Morphic for such a product terminated Janssen in the space of  then each of Janssen and Morphic will negotiate exclusively in good faith for a period of [O], After Janssen has received all the information to be provided in the current ROFN availability release for such a Terminated Janssen product, the possible terms of a final agreement under which Janssen would obtain exclusive rights to the development, production and marketing of the product De Passeportd Terminated Janssen (Janssen contract on terminated products), it understands and is not required to enter into a definitive agreement. The product contract terminated by Janssen may include, at Janssen`s choice, the granting of rights for the entire territory or one or more essential regions located in the territory, or the granting of rights for the entire field or one or more mentions on the ground. This option extends to — [time] from disclosure of intellectual property to the developer, OR filing a patent application, OR announcing the patent award, or issuing a patent or concluding the duration of the contract. The terms of these licences must be negotiated in good faith and agreed between the university and the sponsor. If the promoter decides on a non-exclusive and free license to use the intellectual property exclusively for research purposes, the university is still in a position to grant an exclusive license to a third party for the marketing of intellectual property. If the sponsor accepts an exclusive license, the university must retain the right to use intellectual property in its own research and teaching programs.
The practices described in this section are proposed as possible best practices (some of the practices that readers feel are an ideal practice) in preparing exam options. – define how the equipment will be used at the end of the (commercial) option/evaluation period. While disclosure or filing a patent application is important, many inventions for which applications are filed are never commercialized. Therefore, at the time of submission, a sponsor generally does not have sufficient information to make an informed decision as to whether to commit to developing a business development under a licensing agreement. However, one of the reasons the university enters into a licensing agreement is to require the sponsor to enter into a non-transferable licensing agreement and/or its rights, obligations and conditions, which cannot be sold, donated, assigned or otherwise passed on to any party that is not a signatory to the contract.