ASSIGNMENT OF PATENT RIGHTS
_______________ to _____________
THIS ASSIGNMENT, effective the __ day of ________ 20__ by and between __________________, a _____________residing at _____________________, (hereunder referred to as Assignor), and ____________________, a _______________having a place of business at ______________ (hereunder referred to as Assignee).
WHEREAS, Assignor is the owner of the entire right, title and interest in and to the patents and patent applications, and the inventions disclosed therein, (hereinafter referred to collectively as the Patent Rights) identified on the attached Schedule.
WHEREAS, Assignee is desirous of obtaining all right, title and interest in and to the inventions represented by the Patent Rights in the ________; and
WHEREAS, Assignor is agreeable to assigning the Patent Rights for the _____________.
NOW, THEREFORE, for good and valuable consideration, the receipt of which is hereby acknowledged, the said Assignor has sold, assigned, transferred and set over, and by these presents does hereby sell, assign, transfer and set over, unto the said Assignee, its successors, legal representatives and assigns as of the effective date recited above, all right, title and interest in, to and under the Patent Rights in the _________, including specifically the right to claim priority from said Patent Rights as fully and entirely as the same would have been held and enjoyed by Assignor if this assignment and sale had not been made, together with all claims for damages by reason of past infringement of the Patent Rights with the right to sue for and collect the same for Assignee’s own use and enjoyment, and for the use and enjoyment of its successors, assigns or other legal representatives.
Assignor hereby covenants that it has full right to convey the rights herein assigned, and that it has not executed, and will not execute, any agreements in conflict herewith.
This assignment may be executed in any number of counterparts, each of which will be deemed an original, but all of which together constitute one and the same instrument. Executed signature pages to this assignment may be delivered by facsimile, or by email in portable document format (.pdf) and delivery of the signature page by such method will have the same effect as if the original signature had been delivered by the sending party to the receiving party.
IN WITNESS WHEREOF the said Assignor and Assignee have caused their respective corporate and legal names to be hereto signed.
______ __, 20__ By:__________________________
______ __, 20__ By:__________________________
Assignment of Patent Rights
|AppIn No.||Pubn No.||Pubn Date||Patent No.||Grant Date||Title|
Table of Contents
- The Basics: What is a Trademark Assignment Agreement?
- When a Trademark Assignment Agreement is Needed
- The Consequences of Not Using This Agreement
- The Most Common Situations
- What Should be Included in This Agreement?
1. The Basics: What is a Trademark Assignment Agreement?
A Trademark Assignment Agreement is a written document that legally transfers a legally recognized word, phrase, symbol, and/or design (the “Trademark”) from the current owner (the “Assignor”) to the future owner (the “Assignee”).
Although intangible, a trademark is a valuable asset because customers instantly associate certain qualities with a recognized brand. This agreement allows the owner to properly transfer the goodwill of a business to another party.
A simple Trademark Assignment Agreement will identify the following basic elements:
- Effective Date: when the trademark is officially transferred to the new owner
- Trademark: describe the legally recognized word, phrase, symbol, and/or design, including the official trademark number if the mark has been registered with the U.S. Patent and Trademark Office (“USPTO”)
- Assignor: the current owner giving up ownership of the mark
- Assignee: the future owner giving money to obtain the mark
- Consideration: how much money is being paid for the mark
- Warranties: the Assignor guarantees that they are the true owner and have authority to transfer the mark
- Signatures: the Assignor and Assignee must both sign the agreement
- Notary Public: the agreement should be notarized if you expect to register the trademark in a foreign country
As a reference, people call this agreement by other names:
- Assignment of Intellectual Property Rights Agreement
- Assignment and Transfer Agreement
- Intellectual Property (IP) Assignment
- Transfer of Trademark Rights
- Trademark Purchase and Assignment Agreement
Trademark Assignment PDF Sample
The sample trademark assignment agreement below details an agreement between the assignor, ‘Jennifer B Terry’, and the assignee, ‘Wendy J Proulx.’ Jennifer B Terry agrees to transfer ownership of the trademark to Wendy J Proulx and to give up any further use of the trademark.Trademark Assignment Agreement
2. When This Agreement is Needed
A Trademark Assignment Agreement is commonly used to document a transfer of ownership of a trademark or service mark. A transfer of ownership is often needed when a product or company is being sold or purchased by another person or organization.
Two types of trademarks can be transferred:
Common Law or Unregistered
|Uses registered trademark symbol (R) or ®||Uses the trademark symbol (TM) or ™|
|Formally registered with the USPTO||Uses the service mark symbol (SM) or ℠|
|Enhanced rights because the public is on notice||Brand names and logos are automatically protected when a company uses the mark in the normal course of commerce|
|Mark appears in the USPTO’s Trademark Electronic Search System (TESS)|
3. The Consequences of Not Using This Agreement
Without a Trademark Assignment Agreement, there is no clear record of who currently owns the mark. Trademarks are often part of a company’s valuable assets and should therefore be treated like property.
|Loss of Time||Loss of Time|
|Loss of Money||Loss of Money|
|Mental Anguish||Mental Anguish|
4. The Most Common Situations
These are some of the most common situations in which a trademark assignment agreement is important:
|Startup company||Larger business|
|Business being aquired||Acquiring company|
|Company winding down its assets||Growing company|
|Company merging with another||Company merging with another|
5. What Should be Included in This Agreement?
A simple Trademark Assignment Agreement should generally have at least the following:
- Who currently owns the trademark and who will be the new owner
- What the mark consists of and any associated registration numbers
- Where any future disputes will be handled (“Governing Law”)
- When the trademark is officially transferred to the new owner
- Why the Assignor has the right to transfer the mark and associated goodwill
- How much the Assignee will pay to be the new owner of the mark
The term “trademark” is frequently used to refer to both a trademark and a service mark. Trademarks identify products or goods, while service marks identify services provided. For example, Outback Steakhouse is a service mark because food is being served, whereas its famous Bloomin’ Onion is a trademark because it refers to the restaurant’s specialty deep-fried appetizer.
In addition to words, phrases, or logos, a trademark can also include a slogan, name, scent, shape of a product or container, and a distinctive combination of musical notes. For example, even a color can be trademark if it acts purely as a symbol according to the 1995 U.S. Supreme Court case Qualitex Co. v. Jacobson Products Co., Inc.
Learn more about whether you should register your trademark from the USPTO Basic Facts about Trademark. If the mark is federally registered, the USPTO allows you to track assignments on their Trademark Query site. Do your homework and double check with the USPTO and in all 50 states that the Assignor actually owns the registered or unregistered mark and has the right to sell the mark. Due diligence can save you time and money later down the road.
Create Your Free Trademark Assignment Agreement in 5 min.
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Just because a trademark cannot be physically held does not mean the mark does not have a physical value. Forbes has valued Google’s trademark at a whopping $44.3 billion, while the Microsoft trademark came in right behind at a value of $42.8 billion. Properly recording an assignment allows you to clarify who owns the valuable mark.
If you do not want to transfer complete ownership of the mark, consider a Trademark License Agreement instead. A license gives you temporary permission to use the mark in some limited way. For example, a license allows you to use the mark for a certain amount of time or for a particular use or region of the country.