Free Patent Assignment Agreement
This Patent Assignment Agreement is between an assignor who owns a patent and an assignee to which the patent will be assigned. This assignment sets out the names of the parties and a detailed description of the patent. This Patent Assignment Agreement also contains provisions which state assignor has the right of assignment and upon execution of the agreement ownership of the patent will revert to the assignee.
Disclaimer:This was not drafted by an attorney & should not be used as a legal document.
Patent Assignment Agreement
This Patent Assignment Agreement (herein referred to as the “Assignment”) is made and entered into this _____ day of __________, 20__ by and between ________________________ (herein referred to as the “Assignor”) and ___________________________________________ (herein referred to as “Assignee”).
In consideration of the covenants and obligations contained herein, Assignor and Assignee represents and agrees as follows:
The Assignor hereby assigns to the Assignee the following Patent:
In consideration of the assignment of rights hereunder, the Assignee agrees to pay the Assignor a sum of $ . The Assignor acknowledges receipt of due and sufficient consideration in final.
The Assignor warrants and represents that the Assignor is the sole creator or the sole owner of the Patent, and that the Assignor has full power and authority to enter into this Agreement and that this Agreement does not infringe the rights of any third party.
The Assignor expressly agrees that from the date of this Assignment the Assignee shall own all rights in the said Patent. The Assignee shall have all benefit and dispose of these rights in any way and at his/her sole discretion.
This Assignment shall be governed in accordance with the laws of the State of ________. Any dispute, controversy or legal proceeding regarding this Assignment shall be resolved and adjudicated in the Courts of the State of _________________.
The Parties agree that this Agreement shall be binding upon the legal successors and assigns. This agreement is final.
The Assignor agrees to execute all documents necessary to effect the Assignment, as and where necessary to comply with applicable local laws.
Assignor: ______________________________ Date: __________________
Assignee: _____________________________ Date: __________________