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Illinois Patent Assignment Agreement

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Illinois Patent Assignment Agreement Powered By Docstoc
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                             This is an agreement which effectively assigns a patent holder's rights in and to a patent to
                             another party. The agreement sets forth the specific terms and conditions of the
                             assignment including the identities of the assignor and assignee, a patent description and
                             payment details. It is necessary to memorialize this transaction in written form and to
                             record it with the United States Patent and Trademark Office in order to prevent any future
                             litigation or disagreements. This document should be used by an individual or company
                             located in Illinois that assigns or acquires patent rights in an invention.
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                              PATENT ASSIGNMENT AGREEMENT


THIS PATENT ASSIGNMENT AGREEMENT made on this ____ [Month] ____ [Date],
20____ by and between ______________________ [Instruction: Insert the name of patent
holder], residing at ___________________________________________ [Instruction: Insert
the     address     of    patent    holder]     (hereinafter    referred   to    as   “Assignor”),         and
___________________ [Instruction: Insert the name of an individual or entity desiring to
obtain the patent rights], having an address at ___________________________ [Instruction:
Insert the address of assignee entity/individual] (hereinafter referred to as " Assignee").
Assignor on the one hand and Assignee on the other hand, are each sometimes referred to herein
as a “Party” and collectively as the “Parties” to this Agreement.


NOW, THEREFORE, In consideration of the payments set out in this Agreement Assignor has
authorized the Assignee to use the patent on the terms and conditions contained herein
(“Assignment”).


1. Definition
      Pending Patent: Patent pending means that inventor has either filed a Provisional
      application or a complete application for a patent which is not yet granted.


2. Patent Description
      By application dated ____ [Month] ____ [Date], 20____, the Assignor applied for and
      subsequently received from the United States Patent & Trademark Office a Patent dated
      ____ [Month] ____ [Date], 20____ bearing Patent Number _____________ [Instuction:
      Inse
				
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Description: This is an agreement which effectively assigns a patent holder's rights in and to a patent to another party. The agreement sets forth the specific terms and conditions of the assignment including the identities of the assignor and assignee, a patent description and payment details. It is necessary to memorialize this transaction in written form and to record it with the United States Patent and Trademark Office in order to prevent any future litigation or disagreements. This document should be used by an individual or company located in Illinois that assigns or acquires patent rights in an invention.
This document is also part of a package Essential Illinois Legal Documents 80 Documents Included