How to Invent and Protect Your Invention: A Guide to Patents for Scientists and Engineers

D. PATENT ASSIGNMENT AGREEMENT

This Intellectual Property Assignment Agreement (the “Agreement”) is effective this [date] day of [month], [year] by and among [inventor's name], a citizen of [state] with a residence at [address] (the “Inventor”), and [assignee's name], a [state] corporation having a principal place of business at [address] (the “Assignee”).

Whereas, the Inventor has patents, knowhow and other intellectual property for [description of invention] (the “Intellectual Property”).

Whereas, Intellectual Property can better be commercialized through the expertise of Assignee.

Whereas, Inventor wishes to assign his rights to Intellectual Property to Assignee.

Now Therefore, in consideration of the mutual promises hereinafter set forth, Inventor and Assignee agree as follows:

1. Inventor assigns rights to all Intellectual Property, including but not limited to [patent and provisional application numbers] and any Intellectual Property listed in the Appendix.

2. Assignee will provide commercialization, marketing and support services for Intellectual Property. Assignee agrees to use all reasonable efforts to generate revenue from Intellectual Property.

3. Inventor agrees to share additional related technology and knowhow that Assignee may wish to license or utilize under a confidential disclosure agreement.

4. Assignee's board members will meet periodically to assess commercial potential of assigned Intellectual Property. Any Intellectual Property, which is not being effectively ...