US Legal Forms
Assignment of Patent

Assignment of Patent

Name: Assignment of Patent
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.81 (258 reviews)

Category:

Copyrights Patents and Trademarks

State:

Multi-State

Control #:

US-0739BG

Format:

Instant download

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Description

An assignment is a transfer of rights that a party has under a contract to another person, called an assignee. The assigning party is called the assignor. Unless there is a statute that requires that certain language be used in an assignment or that the assignment be in writing, there are really no formal requirements for an assignment. Any words which show the intent to transfer rights under a contract are sufficient to constitute an assignment. A patent is a grant of a property right by the Government to an inventor. The United States Constitution gives Congress the right to provide for patent protection in legislation in order to encourage useful inventions. The patent itself provides a detailed description of the invention, and how it is used or how to make it. Thus, if you obtain a patent you cannot keep the matter secret, which is the province of Trade Secret Law. A patent enables the owner to exclude others from making, using or selling the invention for the life of the patent.

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FAQ

A patent or patent application is assignable by an instrument in writing, and the assignment of the patent, or patent application, transfers to the assignee(s) an alienable (transferable) ownership interest in the patent or application.

A patent assignment is an agreement where one entity (the ?assignor?) transfers all or part of their right, title and interest in a patent or application to another entity (the ?assignee?).

Assignee: Organization(s) and individual(s) that have an ownership interest in the legal rights a patent offers. There may or may not be an assignee. An assignee is often the organization employing the inventor of the technology. An assignee can also change at a later date.

The application process can be lengthy and time-consuming. It can take three to four years for a patent application to be completed and granted. There is also the risk that the market could change significantly over time or that technology could advance. A patent can be an expensive process even if it unsuccessful.

Advantages of a Patent Assignment Assignees don't create a unique invention or design. They also don't go through the lengthy patent process. They simply assume exclusive rights to intellectual property. Many patents cover intellectual property that can earn the owner money.

No Corporation Patent Inventors A corporation cannot conceive of an invention because a corporation has no collective consciousness to perform a mental act. Giving patent rights to human inventors provides incentives for human ingenuity in exchange for monetary benefits.

To transfer patent ownership to a company or another entity, each inventor must sign a document called a patent assignment which should then be recorded with the USPTO. First-time patent clients sometimes hesitate to identify inventors, especially when the principals of the company are not the inventors.

Patent assignment transfers your ownership rights in your patent from yourself to your company. This means that once you assign the patent, you transfer all ownership and control of that patent and its intellectual property rights as the patent inventor to another entity/company, known as an ?assignee?.

More info

This searchable database contains all recorded Patent Assignment information from August 1980 to the present. In a patent assignment, the original owner permanently transfers its ownership to another entity.ASSIGNMENT OF RIGHTS TO APPLICATION: This type of assignment is for the rights to an invention for which a patent application has been filed. In the US, the inventor is presumed to be the initial owner of a patent or patent application. As a legal solution, a patent assignment constitutes the renouncement of the assignor to the rights over the patent. USPTO Bulk Downloads: Patent Assignment Text. Text of USPTO patent assignments: 2015, 2014, 2013, 1980-2012. What is a patent assignment? Only when the outside work is likely to involve inventive participation will the faculty member need a completed Patent Assignment Agreement. The number of patent assignments for a county is based upon the cumulative assignees in a county for the designated time-period, i.e.

Assignment of Patent

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