24. COMMERCIALISATION OF CENTRE INTELLECTUAL PROPERTY
24.1 Where a Party is the sole owner of Centre Intellectual Property that
Party may propose a commercialisation strategy to the Board, and if the
strategy is a reasonable one, it shall be adopted by the Board.
24.2 Where the Centre Intellectual Property is jointly owned by the
Parties, the Board shall be responsible for the Commercialisation of Centre
Intellectual Property, and in particular:
(a) marketing the Centre Intellectual Property to industry; and
(b) seeking potential licensees of the Centre Intellectual Property and
other users of the Centre Intellectual Property for commercial purposes.
24.3 Where possible the commercialisation strategy will attempt to maximise
returns by taking into account the putting together of technology packages
made up of Centre Intellectual Property and Background Intellectual
Property.
24.4 Subject to the terms of this Agreement, the Centre Agent shall pay
into the Account any royalties and/or licence fees derived by the Centre
from Commercialisation of the Centre Intellectual Property.