What is Intellectual Property Assignment Agreement (IPAA)
Intellectual Property (IP) is one of the most emerging arenas in law because of its economic exploitation. Some entities or persons may reap the benefits out of an IP on their own while some assign it to other entities or persons in consideration of royalty. The Intellectual Property Assignment Agreement facilitates the whole process by assigning the concerned IP to other through a contractual agreement. These are also known as Rights Agreements/IP Transfer Agreements.
Assignment
The term “assignment” refers to the transfer of rights vested in the owner of an IP to other entity or person. It is basically a sale and purchase of IP rights. The IP may include copyrights, patents, trademarks, industrial designs or geographical indications. The person who assigns the IP is known as the Assignor and the person to whom such IP is assigned is known as the Assignee. Assignment is different from licensing as the former facilitates the transfer of ownership of such IP for indefinite or limited time period while the latter allows the transfer of limited rights for a particular amount of time and ownership is not actually transferred.
Standard Terms & Conditions of an IPAA
• It should be in writing,
• Requirements of a valid contract to be fulfilled under the Indian Contract Act, 1872,
• Identification of the assignor and assignee,
• Definitions containing general and technical terms used throughout the contract,
• Du
Phone
8929902903
Alternate Phone
8929902903
Location
236A, Tower B3 Spaze Itech Park, Sector-49, Gurgaon Gurgaon, India
Court & Convention Reporters Legal Police Political Public Relations Counselors Rape & Sexual Abuse Intervention & Recovery Counseling Social Services - Security Counselors & Representatives Social Services - Service Organizations Social Services