A patent application assignment form is used by a patent applicant to assign a patent owned by him to another individual or company known as the assignee. A patent is a legal device given to an inventor which stops others from producing or profiting from his or her invention. The applicant, who holds all the rights to the patent, through such an agreement, agrees to transfer the rights to the new owner and for that he receives a sum of money. The assignee can use the patent as he pleases for the full term of the patent.
You can Download the Patent Application Assignment Template, customize it according to your needs, and Print it. Patent Application Assignment Template is either in MS Word or Editable PDF.
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Features:
Parties identification:
Clearly identifies the assignor (original inventor or owner) and assignee (party to whom rights are transferred).
Application details:
Captures information about the patent application being assigned, including application number, filing date, and also title of the invention.
Assignment scope:
Specifies the extent of rights being transferred. This may include the entire application, specific claims within the application, or future patents derived from the application.
Consideration details:
Defines the compensation or value exchanged for the assignment (e.g., lump sum payment, royalties on future sales).
Signatures:
Designated sections for both the assignor and assignee (or authorized representatives) to sign and date, signifying their agreement to the terms of the assignment.
Witness signatures:
May include sections for witness signatures to further validate the assignment document.
Optional sections:
May include additional sections for specifying effective date of the assignment, warranties or representations made by the assignor, or governing law for any disputes.
Benefits:
Clear transfer of rights:
The form provides a standardized and legally recognized way to document the transfer of ownership rights in a patent application.
Facilitates collaboration:
Assignment forms enable inventors to collaborate with companies or investors who can provide resources for developing and commercializing the invention.
Protects both parties:
The clear definition of assigned rights and consideration ensures both the assignor and assignee understand their obligations and benefits.
Serves as legal record:
A signed and completed assignment form serves as a legal record of the transaction, which can be crucial in case of future disputes.
Streamlines patent prosecution:
A clear assignment on file with the patent office can prevent delays or confusion regarding ownership during the application process.
