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 Oregon Employee Invention Agreement is a legally binding document that governs the ownership and use of intellectual property created by employees of a company in the state of Oregon. It establishes the rights and responsibilities of both the employer and the employee with regard to inventions, discoveries, and innovations made by the employee during their employment. Under the Oregon Employee Invention Agreement, the employer typically asserts ownership rights over any invention or intellectual property that is created within the scope of the employee's job duties or using the employer's resources. This includes inventions directly related to the company's products, services, or research and development efforts. It also covers inventions that are indirectly related but still have potential commercial value to the employer. The agreement aims to ensure that the employer has control over any intellectual property created by its employees to protect its interests, secure patent rights, and maintain a competitive advantage in the marketplace. This agreement can often extend to not just inventions but also copyrights, trade secrets, and other proprietary information. In addition to the general Oregon Employee Invention Agreement, there may be specific variations based on the industry or nature of the work being performed by the employee. For example: 1. Technology Company Employee Invention Agreement: This agreement may have stricter provisions related to invention ownership, as technology companies heavily rely on intellectual property for their success. It might outline specific procedures for disclosure, evaluation, and protection of inventions. 2. Research Institution Employee Invention Agreement: Research institutions may have agreements that allow employees to retain a certain percentage of ownership or financial benefits for inventions that are more fundamental or groundbreaking in nature. These agreements often involve collaboration between the institution and the employee for sharing the benefits of the invention. 3. Start-up Company Employee Invention Agreement: Start-ups often rely on the creation of new intellectual property for growth and to attract investors. Employee invention agreements for start-ups may include provisions to incentivize employees through equity or profit-sharing arrangements. It is crucial for both employers and employees to carefully review and understand the terms and obligations of the Oregon Employee Invention Agreement before signing it. Consulting with an attorney experienced in intellectual property law is advisable to ensure compliance and protect the rights of both parties involved.
