Patent Assignment Agreement

Patent License Agreement is between the owner of a patent and a party who wants to license the patent. This agreement sets forth the identities of the parties, specific information regarding the patent and the territory in which the patented products may be sold.

Patents can change ownership through the process of assignments.

Patents change ownership for many reasons:

    • Employer to Employer
    • Corporate Mergers & Acquisitions
    • Independent Inventor to Outside Companies
    • Inventors to their own Companies
    • Co-Inventor to Co-Inventor (especially with contractors)

How patents transfer ownership through the process of assignment?

This is a two-step process:

    • The first step is a legal agreement transferring ownership from the current owner to the new owner. This works like any there’s sort of transfer of property agreement.
    • The next step is to take that agreement and file it with the USPTO office of assignments.

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