Intellectual Property (IP) is a vital aspect of any business. In a nutshell, it dictates the ownership of important assets; from a company’s name, down to the lines of code that makes its product work. It’s important to understand the ownership of these assets and is something to think about from day one. We’ve created this document to help you in the event that IP may need to be reassigned to your company or another individual.
The Intellectual Property Assignment is suitable for use between a company registered in England and Wales and an individual founder or an individual consultant. For a company registerd in Hong Kong please uste the HK Intellectual Property Assignment
The agreement can be used to transfer ownership of all intellectual property created for the company in exchange for a nominal fee. The agreement envisages that: (a) there is no other contract between the parties (i.e. an employment agreement or a consultancy agreement); and (b) the parties are on good terms and no dispute has arisen.
The transfer of registered intellectual property rights (for example, trade marks and patents) may need to be separately recorded at the relevant registry and this is not specifically covered by this agreement.
How to Use
As with our other Seedsummit documents, the Intellectual Property Assignment documents are meant to be a template on which to tailor the bespoke assignment that works best for you, or to use it as is.