Docstoc Legal Agreements
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
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: