Assignment of Interest in Patent - One Co-Owner to Another

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This Assignment of Interest in Patent is between two parties who co-own the patent. The assignment sets out the terms of the agreement including the amount one co-owner pays the other for full ownership of the patent. This form is for use in all states and is ready for immediate download.

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Inventors usually file a patent application to protect their rights in an invention. In some instances, more than one person is considered the inventor and both parties co-own the patent. This Assignment of Interest in Patent is for use by one co-owner to transfer his interests to the other co-owner. This assignment sets out the specific terms of the assignment including a brief description of the patented invention and the consideration one co-owner will pay to the other for full ownership of the patent. It is extremely important that this business transaction be set out in writing and recorded if necessary. A written Assignment of Interest in Patent will prove invaluable in the event of misunderstandings or disagreements about the patent’s ownership.

This Assignment of Interest in Patent between Co-Owners contains the following provisions:
  • Parties: Sets out the identities and business addresses of the co-owners;
  • Patent: A brief description of the invention and its patent number;
  • Assignment: Assignor assigns his one-half interest in the patent to the assignee;
  • Payment: The amount paid by assignee for full ownership of the patent and how payment will be made;
  • Signatures: Both assignor and assignee must sign the agreement in the presence of witnesses.

Protect your rights and your property by using our professionally-prepared up-to-date forms.

This attorney-prepared packet contains:
  1. General Instructions
  2. Assignment of Interest in Patent (Co-Owners)
State Law Compliance: This form complies with the laws of all states
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Assignment of Interest in Patent
(One Co-Owner to the Other)

 

 

THIS AGREEMENT made as of [Date of Agreement (ie. July 1, 2002)] between [Name of Assignor] (the "Assignor") of [Address of Assignor] and [Name of Assignee] (the "Assignee") of [Address of Assignee].
WHEREAS:
(A)   Assignor and Assignee are the co-owners of the patent in the area of [Brief Description of General Area of Patent (ie. optical imaging)] which Patent is more particularly described in Schedule “A” hereto (the "Patent"); and
(B)   Assignor has agreed to assign to Assignee his one-half (1/2) interest in the Patent (the “Assignors Interest”);
NOW THEREFORE IN CONSIDERATION OF the premises and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agrees as follows:
1.   The Assignor hereby assigns to the Assignee or its nominee all right, title and interest of the Assignor in and to the Assignors Interest.
2.   As consideration for the assignment of the Assignors Interest to the Assignee, the Assignee will pay to the Assignor the sum of [Payment Consideration for Assignment (ie. $25,000)], which shall be paid by cash or bank draft concurrently with the execution of this Agreement.
3.   The Assignor agrees to do, execute and perform such other acts, documents and things as the Assignee may reasonably request in order to give full force and effect to the true meaning and intent of this Assignment, including but not limited to executing such documents as may be necessary or desirable to register, record, perfect or file the assignment of the Assignors Interest with public offices and governmental authorities.
4.   This Assignment shall be governed by and construed in accordance with the laws of the State of [State (ie. California)].
5.   This Assignment constitutes the entire agreement between the Assignor and the Assignee relating to the subject matter hereof and stands in the place of any previous agreement, whether oral or in writing. No amendment to this Assignment shall be binding upon the parties unless it is in writing and executed by both parties.
6.   This Assignment will enure to the benefit of and be binding upon the heirs, executors, successor and assigns of the Assignee.
IN WITNESS WHEREOF the parties have executed this Agreement as of the date first above written.
 
 
 
Witness
 
[NAME OF ASSIGNOR]
 
 
 
 
Witness
 
[NAME OF ASSIGNEE]
 
 
 
Schedule “ADescription of Patent
 
[Detailed Description of Patent]
Number of Pages5
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#28648
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
 
 
Assignment of Interest in Patent
(One Co-Owner to the Other)

 

 

THIS AGREEMENT made as of [Date of Agreement (ie. July 1, 2002)] between [Name of Assignor] (the "Assignor") of [Address of Assignor] and [Name of Assignee] (the "Assignee") of [Address of Assignee].
WHEREAS:
(A)   Assignor and Assignee are the co-owners of the patent in the area of [Brief Description of General Area of Patent (ie. optical imaging)] which Patent is more particularly described in Schedule “A” hereto (the "Patent"); and
(B)   Assignor has agreed to assign to Assignee his one-half (1/2) interest in the Patent (the “Assignors Interest”);
NOW THEREFORE IN CONSIDERATION OF the premises and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereby agrees as follows:
1.   The Assignor hereby assigns to the Assignee or its nominee all right, title and interest of the Assignor in and to the Assignors Interest.
2.   As consideration for the assignment of the Assignors Interest to the Assignee, the Assignee will pay to the Assignor the sum of [Payment Consideration for Assignment (ie. $25,000)], which shall be paid by cash or bank draft concurrently with the execution of this Agreement.
3.   The Assignor agrees to do, execute and perform such other acts, documents and things as the Assignee may reasonably request in order to give full force and effect to the true meaning and intent of this Assignment, including but not limited to executing such documents as may be necessary or desirable to register, record, perfect or file the assignment of the Assignors Interest with public offices and governmental authorities.
4.   This Assignment shall be governed by and construed in accordance with the laws of the State of [State (ie. California)].
5.   This Assignment constitutes the entire agreement between the Assignor and the Assignee relating to the subject matter hereof and stands in the place of any previous agreement, whether oral or in writing. No amendment to this Assignment shall be binding upon the parties unless it is in writing and executed by both parties.
6.   This Assignment will enure to the benefit of and be binding upon the heirs, executors, successor and assigns of the Assignee.
IN WITNESS WHEREOF the parties have executed this Agreement as of the date first above written.
 
 
 
Witness
 
[NAME OF ASSIGNOR]
 
 
 
 
Witness
 
[NAME OF ASSIGNEE]
 
 
 
Schedule “ADescription of Patent
 
[Detailed Description of Patent]
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Reviews: 2


San Jose,

CA

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Thank you for your excellent services. My legal documment worked out fine. I was able to edit the form to my needs.


Palm Desert,

CA

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Found it to be very useful in organizing my thoughts in relation to a potential patent assignment, and liked the way in which it could be modified to suit particular needs and circumstances.


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