Institution Patent Rights means all of Perm’s rights in potentially patentable and patentable inventions conceived during, created in, or reduced to practice by employees acting within the scope of their employment at any time while they are conducting sponsored research together with their corresponding patent rights (such as patents and applications for those patents), including all continuations, divisions, continuation-in-parts, where the inventions disclosed in any such patent or patent applications are directed to subject matter described in the patents.