definiens: : shall mean ( i ) the results of activities carried out by the Company or by third parties at the direction of the Company ( including any invention, patent or patent application, product, material, method, process, technique, know - how, data, information or other result which does not form part of the Licensed Information, discovered in the course of or arising from such activities carried out by the Company or by third parties at the direction of the Company, including any regulatory filing filed, or approval obtained, by the Company or a Sublicensee ) in respect of the Products, as well as any information, material, results, devices and know - how arising therefrom ; and ( ii ) any inventions, improvement, development or enhancement based upon, consists of, comprises, contains or incorporates the Licensed Information made by the Company, Ferber or any other employee or agent of Sheba on behalf of the Company following the Effective Date, provided however that with respect to Ferber and Sheba 's employees such invention shall be deemed a only as long as they are Sheba 's employees or where under the laws, regulations, and/or guidelines or directives of any regulatory authority, such invention belongs to Sheba