Question: Consider the Intellectual Property Rights Agreement between Rare Element Resources Ltd. and Synchron; What licenses are granted under this contract?
Relevant contract clauses:
[{"span": [4563, 5110], "answer": "Company grants to Investor, for the duration of the Option Period, a worldwide, royalty-free, non-exclusive, irrevocable license (with the right to grant sublicenses to Affiliates) under the Patents to practice the methods therein described and claimed and to make and have made, use, offer to sell, sell and import products made using such methods, and to make Improvements, and to engage in any activity which would give rise to a claim of infringement (direct or indirect or otherwise) of one or more of the Patents in the absence of a license.", "file_path": "cuad/RareElementResourcesLtd_20171019_SC 13D_EX-99.4_10897534_EX-99.4_Intellectual Property Agreement.txt"}, {"span": [5118, 5697], "answer": "Company further grants to Investor, during the duration of the Option Period, a worldwide, royalty-free, non-exclusive, irrevocable license (with the right to grant sublicenses to Affiliates) to use the Technical Information to practice the methods described and claimed in the Patents and to make and have made, use, offer to sell, sell and import products made using the methods, and to make Improvements, and to engage in any activity which would give rise to a claim of infringement (direct or indirect or otherwise) of one or more of the Patents in the absence of a license.", "file_path": "cuad/RareElementResourcesLtd_20171019_SC 13D_EX-99.4_10897534_EX-99.4_Intellectual Property Agreement.txt"}, {"span": [6781, 7207], "answer": "If the Option is exercised before the expiration of the Option Period, the license grants set forth in Articles 3.00 and 3.01 will become exclusive to Investor for a perpetual term, shall not be subject to a licensing fee, the granted licenses in favor of the Investor shall be deemed fully paid-up, and the rights granted to Investor under Articles 3.00 and 3.01 shall include the right to grant sublicenses to Third Parties.", "file_path": "cuad/RareElementResourcesLtd_20171019_SC 13D_EX-99.4_10897534_EX-99.4_Intellectual Property Agreement.txt"}, {"span": [7474, 8204], "answer": "The licenses granted in Articles 3.01 to 3.04 of this IP Agreement are subject to a reserved non-exclusive license in the Company to practice the methods described and claimed in the Patents and to make, have made, use, offer to sell, sell and import rare earth products made using such methods, and to use the Technical Information to practice the methods described and claimed in the Patents for such purposes. Such reserved non-exclusive license shall be solely for use by the Company and its Affiliates and shall not be transferable to any Third Party, except in connection with a merger, consolidation, or the sale or transfer of substantially all of the Company's assets associated with the performance of this IP Agreement.", "file_path": "cuad/RareElementResourcesLtd_20171019_SC 13D_EX-99.4_10897534_EX-99.4_Intellectual Property Agreement.txt"}, {"span": [14819, 15175], "answer": "Investor hereby agrees to grant to Company a non-exclusive, irrevocable, royalty-free license under any Investor Improvement and any patent claiming such Investor Improvement, solely for use in rare earth mineral processing and rare earth separation, to make and have made, use, offer to sell, sell and import products made using the Investor Improvements.", "file_path": "cuad/RareElementResourcesLtd_20171019_SC 13D_EX-99.4_10897534_EX-99.4_Intellectual Property Agreement.txt"}, {"span": [15805, 16048], "answer": "Investor hereby agrees to grant to Company a non-exclusive, irrevocable, royalty-free license under any Joint Improvement and any patent claiming such Joint Improvement solely for use in rare earth mineral processing and rare earth separation.", "file_path": "cuad/RareElementResourcesLtd_20171019_SC 13D_EX-99.4_10897534_EX-99.4_Intellectual Property Agreement.txt"}]