- Prepare an assignment of IP agreement
- Prepared by solicitors
An Assignment of Intellectual Property Rights is a legally binding agreement that transfers from the creator to another person the rights to the intellectual property. There are two major types of IP assignments. They are invention assignment agreements and technology assignment agreements.
The invention assignment agreement assigns and provides ownership rights of any new inventions created by founders and employees of a newly formed company. A confidentiality agreement usually accompanies this type of assignment agreement.
The technology assignment agreement may allow the developers to retain rights or they can sell them to the company especially in instances of new start-ups.
An Assignment of IP Rights is very important in today’s world because it is one of the primary documents that potential investors will seek out and read before making the decision to invest in the company. The assignment of IP property rights also helps to prevent unsavoury companies from copying your products and or technology.
An Assignment of IP Rights agreement should include the following:
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