Glossary

Term

Last updated 28 June 2007

Description

The period of time for which the agreement shall remain in force.

In a licensing agreement, the term can be any time period agreed between the parties, but would normally be the time between agreement effective date and expiry of intellectual property rights in each country or territory.

Examples

Definition:

"Term" means, with respect to each country in the Territory, the period commencing on the Effective Date and ending upon the expiration of the last-to-expire patent within the Patents in such country, except as and if sooner terminated in accordance with Section 8.

-- License and Supply agreement between Access and Wyeth, January 2004

Clause:

8.1 Term.

This Agreement shall commence on the Effective Date and continue, unless sooner terminated as set forth below in this Article 8 or as otherwise specifically stated in this Agreement, for the duration of the Term.

-- License and Supply agreement between Access and Wyeth, January 2004