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Patent Assignment Agreement

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					This Patent Assignment Agreement is a document where the owner of a patent or
patent application, transfers all of his or her right, title and interest in and to the patent or
patent application to another party. This document contains the essential information to
effectuate the assignment including the name of the parties, the consideration, and
patent information. It includes standard provisions and may be customized to fit the
specific needs of the parties. This document should be used by assignors and
assignees of a patent.
                                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:
      Insert the patent application number], a copy of which is attached to this Assignment as
      Exhibit A, reduced to practice on ____ [Month] ____ [Date], 20____.

3. Assignment
      Pursuant to and for the consideration set out in Clause 4 below, the Assignor hereby vests,
      transfers and assigns to the Assignee, absolutely with full title guarantee, all its right, title,
      interest, claim and demand in and to the Patent.

4. Payment




© Copyright 2012 Docstoc Inc.                                                                  2
    In consideration for the assignment of the Patents, Inventions and Improvements hereunder,
    Assignor shall receive the following compensation:

    A flat fee of ________ ($___) [Instruction: Insert the amount E.g., twenty thousand
    dollars only ($20,000)[Instruction: Insert the amount] as full payment for all rights
    granted. Payment shall be made upon execution of this Agreement.

5. Improvements [OPTIONAL]
    a) If the Assignor makes, devises, or discovers, or otherwise acquires rights in, any
        Improvement it shall, promptly notify the Assignee in writing, giving details of the
        Improvement.
    b) Unless prohibited by law, the Assignor shall immediately assign, vest and transfer to the
        Assignee, for no additional consideration, all such Improvements and the Inventions
        related thereto which shall be then regarded as part of the Patents, and the provision of
        the Agreement shall apply to them (subject to the applicable changes). If any applicable
        law prohibits such assignment for no additional consideration, the Parties hereby agree
        that the additional consideration to be paid for the assignment of Improvements shall be
        _________ ($__) [One US Dollar only ($1)] [Instruction: Insert the amount].
    c) Notwithstanding the above, if by the operation of law such assignment is not possible, the
        Assignor shall grant the Assignee, for no additional consideration, a worldwide, royalty-
        free, irrevocable, perpetual exclusive license to use, make, manufacture, sell, reproduce,
        distribute, modify, display, prepare derivative works, or any other rights available with
        respect to Improvements and any rights therein.
6. Representations and Warranty
    The Assignor hereby represents and warrants that, till date, the Patent has not been
    invalidated by judicial courts and is        in full force and effect. The Patent covering the
    Invention for which the Patent is granted is the sole property of the Assignor, without any
    contribution, assistance, participation or alleged rights of any third party.

7. Indemnity
    The Assignor shall indemnify and hold the Assignee harmless against all and any loss,
    damages, liability and costs (including reasonable legal expenses) that the Assignee suffers
    or incurs as a result of or in connection with any breach by the Assignor of the warranties in


© Copyright 2012 Docstoc Inc.                                                          3
    Clause 5 above or other obligations under this Agreement. At the request of the Assignee and
    at its expense, the Assignor shall provide all reasonable assistance to enable the Assignee to
    resist any claim, action or proceedings brought against the Assignee as a consequence of that
    breach. This indemnity shall apply whether or not the Assignee has been negligent or at fault.

8. Termination
    a) Option of Assignee: Assignee may terminate the license granted by this agreement,
    provided Assignee shall not be in default hereunder, by giving Assignor ___________ (___)
    [◊ Ninety (90)] days notice to its intention to do so. If such notice shall be given, then upon
    the expiration of such __________ (___) [◊ Ninety (90)] days the termination shall become
    effective; but such termination shall not operate to relieve Assignee from its obligation to pay
    royalties or to satisfy any other obligations, accrued hereunder prior to the date of such
    termination.
    b) Option to Assignor: Assignor may, at its option, terminate this agreement by written
    notice to Assignee in case of:
           i.     Default in the payment of fees required to be paid by Assignee to Assignor
               hereunder;
          ii.     Default in the performance of any other material obligation contained in this
               Agreement on the part of Assignee to be performed and such default shall continue
               fo
				
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Description: This Patent Assignment Agreement is a document where the owner of a patent or patent application, transfers all of his or her right, title and interest in and to the patent or patent application to another party. This document contains the essential information to effectuate the assignment including the name of the parties, the consideration, and patent information. It includes standard provisions and may be customized to fit the specific needs of the parties. This document should be used by assignors and assignees of a patent.