Sale of Partial Interest in Invention
Form reviewed by Bahman Eslamboly, Attorney at FindLegalForms
This Sale of Partial Interest in Invention is between a company and inventor who agrees to sell partial interest in any inventions discovered during the scope of employment as a consultant. This attorney-prepared form can be customized to fit your unique situation.
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This Sale of Partial Interest in Invention contains the following provisions:
- Parties: The names of the inventor and the company engaging the inventor as a consultant;
- Consulting Period: The term in which the inventor agrees to render consultation services;
- Duties/Responsibilities: A detailed list of inventor's duties and responsibilities are set out via an exhibit to this agreement;
- Inventions and Ideas: Detailed definition of "invention ideas" and the set percentage of any invention which will be transferred and assigned to the company;
- Assignment: Inventor agrees that he or she will not assign any rights under this agreement;
- Independent Contractor: Inventor is an independent contractor and is not authorized to act on behalf of the company;
- Signatures: Both inventor and company must sign this agreement.
Protect yourself, your rights and your company by purchasing this attorney-prepared form.
This attorney-prepared package includes:
- General Information
- Instructions and Checklist
- Sale of Partial Interest in Invention
Sale of Partial Interest in Invention
Product Details
| Product | Sale of Partial Interest in Invention |
| Country | United States |
| Pages | 13 |
| Dimensions | Designed for Letter Size (8.5" x 11") |
| Printer compatibility | Designed to print on all ink-jet and laser printers |
| Editable | Yes (.doc, .wpd and .rtf) |
| Format |
Microsoft Word Adobe PDF WordPerfect Rich Text Format |
| Platform |
Windows Compatible Mac Compatible Linux Compatible |
| Availability | In Stock. Instant Download |
| Usage | Unlimited number of prints |
| Category | Invention and Research Agreements |
| Product number | #43483 |
| Download time | Less than 1 minute (approx.) |
| Document Access |
Via secret online address Email with download links Email with attachment upon request |
| Refund Policy | 60 days, no-questions asked, 100% money back guarantee |
Frequently Asked Questions
A Sale of Partial Interest in Invention is a legal agreement between a company and an inventor that outlines the terms under which the inventor sells a portion of their rights to any inventions created during their consulting period with the company.
Having this agreement in writing helps to prevent misunderstandings and disputes between the inventor and the company regarding ownership and rights to the inventions. It serves as a legal record of the terms agreed upon by both parties.
No, the inventor agrees not to assign any rights under this agreement. This provision ensures that the company retains control over the inventions and any related intellectual property.
In the event of a disagreement, the written agreement serves as a reference point for resolving disputes. It clearly outlines the responsibilities and rights of both parties, making it easier to address any issues that arise.
Yes, this Sale of Partial Interest in Invention form complies with the laws of all states, ensuring that it is legally enforceable regardless of where the agreement is executed.
Is This Form Right For You?
Use This Form If:
- Individuals who are inventors and wish to formalize their relationship with a consulting company can utilize this form to ensure that their rights and responsibilities are clearly defined. This agreement helps protect their intellectual property while also outlining the terms of compensation for their contributions.
- Situations requiring clarity in the ownership of inventions created during employment can benefit from this form. By establishing a Sale of Partial Interest in Invention, both the inventor and the company can avoid potential disputes over who retains rights to the inventions developed during the consulting period.
- For those entering into a consulting arrangement with a company, this form provides a structured approach to defining the scope of work and the ownership of any inventions resulting from that work. It is essential for maintaining a professional relationship and ensuring that both parties are on the same page regarding expectations.
- Companies looking to engage consultants for innovative projects can use this form to safeguard their interests. By clearly delineating the terms of the sale of partial interest in inventions, the company can ensure that it retains a stake in any valuable intellectual property developed during the consulting engagement.
- Entrepreneurs who plan to collaborate with inventors on new projects can benefit from this agreement. It allows them to outline the specific terms under which inventions will be shared, thus fostering a collaborative environment while protecting both parties' rights.
Do Not Use If:
- – This form is not appropriate for situations where the inventor is an employee rather than a consultant, as employee agreements typically have different legal implications regarding ownership of inventions.
- – If the invention has already been patented or is in the process of being patented, this form may not be suitable. In such cases, a more comprehensive patent assignment agreement may be necessary.
- – For inventors who are collaborating with multiple companies or individuals, this form may not adequately address the complexities of shared ownership and rights. A more detailed joint venture agreement might be required.
- – When the consulting relationship is informal or not legally binding, this form is unnecessary. It is designed for formal agreements where both parties wish to establish clear legal rights and responsibilities.
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