This form is for an employee invention and confidentiality agreement. For use by a company to retain ownership of any inventions, patents, etc, developed by an employee in the course of employment. Adapt to fit your circumstances.
The New Jersey Employee Invention Agreement, also known as the New Jersey Intellectual Property Rights Act, is a legal document that outlines the ownership rights and responsibilities regarding employee inventions in the state of New Jersey. This agreement is signed between an employer and an employee to specify the intellectual property rights related to any inventions or innovations created by the employee during their employment. In New Jersey, there are primarily two types of Employee Invention Agreements: 1. Non-Disclosure Agreement (NDA): This type of agreement ensures that the employee keeps confidential any proprietary information they may come across during their employment. It prevents the employee from sharing this information with third parties without the employer's consent. The NDA also typically includes clauses regarding the non-disclosure of employee inventions. 2. Assignment Agreement: This agreement involves the transfer of ownership of employee inventions from the employee to the employer. It states that any inventions, discoveries, or innovations made by the employee while working for the company are the property of the employer. Generally, the employee agrees to assign all rights, titles, and interests related to the invention, including patent rights, to the employer. This type of agreement clarifies the employer's ownership of employee inventions. The New Jersey Employee Invention Agreement typically includes the following key elements: 1. Definition of terms: The agreement specifies the terms like "employer," "employee," "invention," and "employment period" to avoid any ambiguity. 2. Ownership of inventions: The agreement clarifies that any inventions, discoveries, or innovations made by the employee within the scope of their employment with the company are the sole property of the employer. 3. Disclosure obligations: The employee is required to promptly disclose any inventions or discoveries to the employer, ensuring the employer is aware of their existence. 4. Assignment of rights: The employee agrees to assign and transfer all rights, titles, and interests related to the inventions to the employer. This includes patent, copyright, and trademark rights. 5. Compensation: The agreement may outline the compensation or rewards the employee may receive in return for the invention and any subsequent commercialization. 6. Non-compete and non-solicitation clauses: This agreement may include clauses prohibiting the employee from competing with the employer or soliciting employees or clients for a certain period of time after leaving employment. 7. Governing law: The agreement specifies that it is governed by the laws of the state of New Jersey, ensuring compliance with the New Jersey Intellectual Property Rights Act. It is important for both the employer and employee to understand and carefully review the New Jersey Employee Invention Agreement, as it protects the rights of both parties. Seeking legal advice is advisable before signing this type of agreement to ensure all terms are fair and reasonable.
