DRAFTING A INTELLECTUAL PROPERTY ASSIGNMENT / TRANSFER
An IP assignment agreement is a document whereby a transfer of Intellectual Property takes place. It is usually entered into when you transfer / acquire all Intellectual Property in any particular work, either as a result of it being a precondition to a type of investment, or as a result of any work order, or any other similar requirement.
An IP assignment / transfer agreement generally contains the following clauses
- Details of the parties.
- Business relation between the parties.
- Complete and accurate description of the intellectual property.
- Representations and warranties as to such accuracy of information and the ownership of the IP.
- The manner in which it is assigned or transferred.
- The obligations of the transferor to assist the transferee in the assignment of the IP, by doing such acts as necessary, including providing representations and requests to the relevant IP regulatory authority.
- Remedies for breach of the agreement.
- Dispute resolution.
- Governing law of the agreement and governing law of the dispute resolution clause.
- Other provisions such as survival of clauses, severability, etc.