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Form #859Assignment - Contract of Patent Rights
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Assignment - Contract of Patent Rights Free Legal Form
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ASSIGNMENT
CONTRACT OF PATENT RIGHTS
This agreement
was entered on ________________________________ (Date) between
________________________________________________________ (Name), the inventor,
and _________________________________________________ (Name), the assignee.
SECTION ONE: ASSIGNMENT OF PATENT RIGHTS
In return for
consideration in the amount of $ ___________ to be paid by the assignee, the
inventor hereby agrees to assign to the assignee the following patent
applications or patent numbers along with all the powers and privileges relating
thereto.: (Give the application numbers, title of the inventions, filing dates
for any applications, or the patent numbers, title of the invention and issue
dates of any patents here)
______________________________________________________________________
______________________________________________________________________
SECTION TWO: EXECUTION OF EFFECTUAL TRANSFER
At the
assignees request, the inventor will execute an effective transfer of the above
patent rights to the assignee after the assignee has paid the agreed
consideration set out above.
SECTION THREE: EFFECTIVE DATE OF ASSIGNMENT
This
assignment will take effect on ________________________ (Date). At that time,
the assignee must pay the purchase price to the inventor upon receiving an
instrument effectively transferring the specific patent rights to the
assignee. This instrument of transfer is to be prepared by the inventor at
his/her own expense.
SECTION FOUR: LIQUIDATED DAMAGES
Since monetary
damages for the breach of this agreement would be difficult to compute, the
parties hereby agree that, in the event of a default, the defaulting party must
pay to the other party the sum of $ _______________ as liquidated damages.
This agreement
was executed at __________________________________ (Location) on
_______________________ (Date).
___________________________________ ___________________
Signature of
Inventor Date
___________________________________ ___________________
Signature of
Assignee Date
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