An IP assignment agreement is a contract between a company and an individual in which the company agrees to assign all of its intellectual property rights to the individual. The agreement typically covers all of the company's patents, copyrights, and trademarks. The agreement may also cover trade secrets, know-how, and other confidential information.
This IP Agreement is designed for an individual to assign IP to a company e.g. a founder is starting a company and needs to vest the IP into that company
This IP assignment can be used where an Assignor is engaged to develop materials containing Intellectual Property Rights for the Assignee. The key definitions include Assigned Rights, Engagement and the Intellectual Property Rights in question. Consideration of £1 is proposed to ensure the agreement is legally enforceable. Apart from that this is a relatively simple and bare bones agreement.
This IP assignment is intended to be used where a company (the assignor) wishes to assign intellectual property rights in works it has created to the assignee. Amendments would be required if the Assignor is an individual. See also separate IP Assignment (Founders) template for initial founder IP assignments. This assignment can be in reference to a previous agreement, for example a consultancy or contractor agreement, whereby you subsequently want to assign the IP of the work. This document is executed as a deed to ensure it is legally binding.
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