Intellectual Property Agreement 4
Intellectual Property Agreement 1
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Intellectual Property Agreement 4
Intellectual Property Agreement 1

Intellectual Property Agreement

    Protecting your exclusive inventions with our legally binding intellectual property agreement template that is easy to work with. Get this template to prevent other parties from taking ownership of your ideas.

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Intellectual Property Agreement
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Intellectual Property Agreement

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Intellectual property agreement is a document which is established among various institutions which contains the guidelines regarding buying and selling of rights of intellectual property. It is also referred to as an IP agreement.

IP agreement plays an important role while discussing the distribution of rights of intellectual property. Intellectual property may include any assets, such as patents and copyrights. It helps in avoiding stealing of copyright data without the authorization of the maker.

Moreover, this agreement allows a company to own an authorized product or invention but does not provide the ownership right to any of its employees. The guidelines authorize the ownership rights in the name of the company.

What Is an Intellectual Property Agreement?

Intellectual property agreement is a pact among two or more parties which includes the purchase and sale of rights which cover an intellectual asset.

The document highlights the policies and terms that need to be implemented to get authorization of any intellectual entity. It discusses the distribution of authorization of intellectual property made during the validity period of the agreement.

Furthermore, it deals with the right of ownership of any entity created by the researchers of the institutions in collaboration and also the property made by each institution independently.

Intellectual property agreement is also referred to as:

  • Intellectual Property Transfer Agreement
  • Intellectual Property Assignment Agreement

It is essential to use an IP agreement for the authorization of a patent or trademarked product. This agreement legally mentions the rights that will be transferred to the participating organizations.

IP agreement includes payment terms against which the rights related to a copyrighted entity will be issued to a company or organization.

The owner of the intellectual asset may provide the company with all the rights to the copyright. A personalized agreement can be drafted using intellectual property ownership agreement templates.

Download a Free Intellectual Property (IP) Agreement Sample Now!

Since you’ve learned what an intellectual property agreement is about, you may want to guarantee your intellectual property with a legal document. Our intellectual property agreement template is developed by strictly following relevant laws and regulations, which can prevent your company from potential losses.

Click below and start using our template today!

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Who Will Use an Intellectual Property Agreement?

An IP agreement is essential for an investor who has been authorized legally for an invention or other property. This agreement establishes specific ground rules when transferring the ownership into the hands of an organization.

A patent owner will undoubtedly require the reliability of a legal agreement for the protection of the intellectual property which, in this case, could be an invention.

The businesses which have been issued a patent for a product will try to gain a competitive advantage over rivals in the market.

Recognized works of dramatics, music, literature and other copyright products require a proper intellectual property agreement to protect these works from exploitation and misuse.

A legal agreement mentions the rights that are accessible related to the use of these works and as such safeguards the ownership.

Trademarks are highly equipped by businesses which provide brand value to a company. A trademarked name or logo should be unique to a company, and the same name or logo should not be utilized by any other company.

An IP agreement helps in providing safety to the trademarked symbol so that it is used only by the authorized organization.

What Are the Features of an Intellectual Property Agreement?

This agreement includes few basic terms and conditions that are required to demand validation from the court. The attorney should review the agreement before sending it to be legalized by the court. It should include the points listed below.

  • The organization should agree to issue the rights of the intellectual property to the respective owner in the agreement. This should include the full powers that are applicable in the present and also the rights to all intellectual entities.
  • The authorisation of any inventions done prior to the effective beginning of the agreement will reside with the inventor and the company cannot take over the ownership of such products.
  • The organization should allow the owner of the intellectual asset the right to get any patent or copyright issued to maintain the security of the transferred intellectual property. The organization should cooperate during the period of the agreement.
  • The agreement should state the details about the term for which the agreement will be considered valid. The agreement should also mention the information on the authorization of inventions made after the deal expires.
  • The organization should agree to negotiate the rights of the intellectual property after the end of the employment term. The organization should provide all the required documents related to the intellectual property to the owner.
  • Both parties should agree to abide by the terms and conditions and to resolve the disputes, if any, that arise during the time of the agreement in the court. The court should be under the complete jurisdiction of the state, under the laws.
  • Any amendments can be made in the agreement if both parties provide the signed amendment documents to the court. Premature termination of the agreement can only be done by providing written documents signed by both parties.

Why Should You Opt for an Intellectual Property Agreement?

An IP agreement is vital for the owner of intellectual property for various valid reasons.

It allows the authorization to be protected by the legal terms and conditions of the deal. This helps in securing the rights that could be easily violated if no agreement is made regarding the ownership.

  • This agreement helps in avoiding adverse situations among different parties. Since the court validates everything, it can be used as a piece of legal evidence by any party against false allegations imposed on them.
  • This agreement safeguards the rights to an intellectual entity after the end of the employment term. This provision is vital as it helps the owner of the patent to demand all the documents and materials related to the product.
  • The intellectual property agreement helps in improving the reliability of investors upon you. Investors usually look for a patent product or copyright content whenever investing their funds into a service.

This agreement helps in maintaining investor trust in the owner’s intellectual asset.

Download a Free Intellectual Property (IP) Agreement Sample Now!

Since you’ve learned what an intellectual property agreement is about, you may want to guarantee your intellectual property with a legal document. Our intellectual property agreement template is developed by strictly following relevant laws and regulations, which can prevent your company from potential losses.

Click below and start using our template today!

Get started now Download template

Conclusion

The importance of an IP agreement can be clearly understood for the protection of intellectual property.

The document should be legal-sounding and easily understandable to avoid any obstacles in the negotiation of the terms and conditions. Creating your unique intellectual property agreement requires the use of the best templates

CocoSign offers an intellectual property agreement template, which allows the owner of the entity to frame details of the agreement according to their requirements. We provide a handy and plain-texted intellectual property agreement template for free.

DOCUMENT PREVIEW

INTELLECTUAL PROPERTY CONTRIBUTION AND ASSIGNMENT AGREEMENT

This Intellectual Property Contribution and Assignment Agreement (the “Agreement”) is made as of [             ] by and between [             ] (the “Company”), and [             ] (the “Assignor”).  

1.     Intellectual Property Assignment. The Assignor hereby assigns to the Company, its successors and assigns, for good and sufficient consideration in connection with execution of the Founder Stock Purchase Agreement dated [             ], the entire right, title and interest in and to any and all of the following that exist as of the date hereof: (a) Intellectual Property (as defined below) relating to the Company (b) any and all Intellectual Property Rights claiming or covering such Intellectual Property and (c) any and all causes of action that may have accrued to the undersigned in connection with such Intellectual Property and/or Intellectual Property Rights.  Assignor further agrees to execute and deliver the Assignment of patents and patent applications as attached hereto as Exhibit A (if applicable).

2.     Intellectual Property Definition. “Intellectual Property” means any and all intellectual property and tangible embodiments thereof, including without limitation inventions, discoveries, designs, specifications, developments, methods, modifications, improvements, processes, know-how, show-how, techniques, algorithms, databases, computer software and code (including software and firmware listings, assemblers, applets, compilers, source code, object code, net lists, design tools, user interfaces, application programming interfaces, protocols, formats, documentation, annotations, comments, data, data structures, databases, data collections, system build software and instructions), mask works, formulae, techniques, supplier and customer lists, trade secrets, graphics or images, text, audio or visual works, materials that document design or design processes, or that document research or testing, schematics, diagrams, product specifications and other works of authorship.

3.     Intellectual Property Rights Definition. “Intellectual Property Rights” means, collectively, all rights in, to and under patents, trade secret rights, copyrights, trademarks, service marks, trade dress and similar rights of any type under the laws of any governmental authority, including without limitation, all applications and registrations relating to the foregoing.

4.     Prior Inventions. The Assignor has listed in Exhibit B all inventions, original works of authorship, developments, improvements, and trade secrets which were made by the Assignor prior

 

 

to the date hereof, (collectively, the “Prior Inventions”), which belong to the Assignor, which relate to the Company’s proposed or current business, products or research and development, and which are not being assigned to the Company; or, if no such list is attached, the Assignor represents that there are no such inventions.  In the event that any Prior Inventions are listed on Exhibit B, the Assignor hereby grants to Company a present, non-exclusive, royalty free, irrevocable, perpetual, world-wide license to make, have made, sublicense, modify, use and sell such Prior Invention as part of or in connection with the Company’s products and technology currently under development or in production.  

5.     Further Assurances. The Purchaser agrees to execute any and all papers and documents, and take such other actions as are reasonably requested by the Company, to evidence, perfect, defend the foregoing assignment and fully implement the Company’s proprietary rights in the subject matter assigned hereunder, such as obtaining and enforcing copyrights, patents or trademarks and to fully cooperate in the prosecution, enforcement and defense of such proprietary rights.  The Purchaser further agrees that if the Company is unable, for any reason, to secure signatures to apply for or to pursue any application for any patent, copyright, trademark or other proprietary right covering any Intellectual Property assigned to the Company above, then the Purchaser hereby irrevocably designates and appoints the Company its duly authorized officers and agents as the Purchaser’s agent and attorney-in-fact, to act for and in the Purchaser’s behalf and stead to execute and file any such applications and to do all other lawfully permitted acts to further the prosecution and issuance of patents, copyrights, trademarks and other registrations thereon with the same legal force and effect as if executed by the Purchaser.  

6.     Representations and Covenants. The Assignor represents and warrants that (i) the Assignor is the owner of the entire right, title and interest in and to the Intellectual Property, (ii) the Assignor has the sole right and authority to enter into this Agreement and grant the rights hereunder, (iii) the Purchaser has not previously granted any rights or licenses in the Intellectual Property, (iv) the Purchaser does not own or have the right to license any other Intellectual Property that is related to the conduct of the Company’s business, (v) the Assignor is not obligated under any consulting agreement, employment agreement, or other agreement or obligation that conflicts with, or would prevent the Assignor from fully performing the Assignor’s obligations under, this Agreement and the Assignor shall not enter into any such agreement or obligation during the period of the Assignor’s employment by the Company; (vi) there is no action, investigation, or proceeding pending or

 

 

threatened, or any basis for any of the foregoing known to the Assignor, involving the Assignor’s prior employment, the Assignor’s prior work for third parties as an independent contractor, or the Assignor’s use of any information or Inventions of any former employer or third party; and (c) the performance of the Assignor’s duties under this Agreement and the Assignor’s duties with the Company will not breach, or constitute a default under, any agreement to which the Assignor bound, including any agreement limiting the use or disclosure of proprietary information acquired prior to the Assignor’s employment with the Company.     

7.     Governing Law. This Agreement and actions taken hereunder shall be governed by, and construed in accordance with the laws of the State of [         ] applied without regard to conflict of law principles.

8.     Miscellaneous. This Agreement, including the exhibits, schedules, and other documents and instruments referred to herein, embodies the entire agreement and understanding of the parties hereto in respect of the subject matter contained herein. This Agreement supersedes all prior agreements and understandings between the parties with respect to such subject matter.  If any one or more provisions contained in this Agreement shall, for any reason, be held to be invalid, illegal, or unenforceable in any respect, such invalidity, illegality, or unenforceability shall not affect any other provision of this Agreement, but this Agreement shall be construed as if such invalid, illegal, or unenforceable provision had never been contained herein.  The terms and provisions of this Agreement may be modified or amended only by written agreement executed by all parties hereto.

 IN WITNESS WHEREOF, the undersigned has caused this Intellectual Property Contribution and Assignment Agreement to be executed.

[Company Name]



By:_____________________________
Name:                  [Name of President]
Title:                    President

Accepted and Agreed:

 

 

ASSIGNOR


________________________________
[Assignor Name]


 

 

Exhibit A: Patent Assignment Agreement (if applicable)

 

Exhibit B: Prior Inventions (if applicable)

 

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