Download a professional invention assignment agreement template to simplify intellectual property transfers. Easy to customize and ready to use!

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Understanding Invention Assignment Agreements

An invention assignment agreement is a legal document that transfers rights to inventions from the creator to another party, typically an employer. This agreement ensures that the inventions made by an employee during their employment become the intellectual property of the employer. It generally covers patent rights and can include other intellectual property rights such as copyrights and trade secrets.

When and Why You Need It

Invention assignment agreements are essential in employment settings where employees are expected to create intellectual property as part of their job responsibilities. They are crucial for companies to secure ownership of innovations and associated intellectual property developed during employment, ensuring the company’s intellectual assets are protected.

Professionally Crafted and Tested

This invention assignment agreement has been drafted by professional lawyers and tested in real-world scenarios, assuring it meets legal standards and effectively protects your interests.

Completing and Negotiating The Agreement

When completing an invention assignment agreement, pay attention to the definitions of “inventions,” “intellectual property,” and any exclusions listed. Negotiate terms that clearly define what is covered and any retention of rights by the inventor, if applicable. Ensure it complies with applicable employment laws and aligns with your business objectives.

Avoid Common Mistakes

1. Not clearly defining what constitutes an “invention.” Clarify this to avoid disputes.
2. Overlooking the inclusion of past inventions. Include a carve-out provision for prior works.
3. Failing to ensure compliance with state-specific rules. Consult legal counsel to verify legal alignment.
4. Ignoring the importance of written amendments. Always put modifications in writing.