Intellectual Property (Shared Ownership)

The parties shall jointly own the Work Product created under this Statement of Work, with each party holding an undivided, royalty-free, worldwide right to use, license, modify, and distribute the Work Product for its own purposes, without obligation of accounting to the other. Each party retains ownership of its respective pre-existing materials. The specific allocation of ownership and license rights for any particular component may be further specified in a written addendum signed by both parties.