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Assignment of Intellectual Property

An Assignment of Intellectual Property allows you to transfer the ownership of intellectual property from one person or company to another. This Assignment can be used in the context of a business sale, and in other contexts.

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Last updated January 13, 2025

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Written by

Edwin Montoya Zorrilla

Reviewed by

Damin Murdock

Document Overview

One of the primary ways that you can sell or acquire intellectual property is through assignment. This Assignment of Intellectual Property is used to assign intellectual property. Assigning intellectual property is the transfer of the rights of that intellectual property from one party to another, usually for monetary consideration. Whether you are starting a business or running a business, intellectual property is a significant piece of your business’s value. It is important to ensure that the terms of any assignment of intellectual property are clear at any stage of your business. 

The Legal Risk Score of a Assignment of Intellectual Property Template

Our legal team have marked this document as medium risk considering:

  • The document must be properly executed as a deed.
  • The document allows the complete transfer of rights, titles, and ownership of intellectual property, which might expose the assignor to risks associated with losing potential future revenues or claims related to the intellectual property.
  • The assignor retains moral rights, which could lead to conflicts or legal complexities if the assignee's use of the intellectual property conflicts with the original creator's moral standards or personal reputation.
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Assignment of Intellectual Property Checklist

Complete your free Assignment of Intellectual Property with our checklist

Ensure Proper Execution of the Deed

Make sure that the deed is signed by all relevant parties as required and witnessed if necessary to ensure its legal validity.

Register the Transfer

Complete and submit any required forms or registrations with the appropriate intellectual property authorities to officially record the change in ownership.

Notify Relevant Parties

Inform all parties who may be affected by the transfer of intellectual property, such as licensees or business partners, to ensure they are aware of the new ownership rights.

Review and Store Document Securely

Review the completed and executed deed for accuracy, then store it in a secure location for future reference and legal compliance.

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Use this Intellectual Property Agreement if:

  • You would like to assign intellectual property to another person or company.
  • You would like intellectual property to be assigned to you.
  • The assignment of intellectual property is part of a business sale.

What does the Intellectual Property Agreement cover?

  • Assignment fee and assigment date;
  • The rights and obligations of the Assignor and Assignee; and
  • Payment, warranties, indemnities and GST.

Other names for an Intellectual Property Agreement include:

  • IP Agreement.
  • Intellectual Property Agreement.
  • Intellectual Property Assignment Agreement.
  • IP Assignment Agreement.
  • IP Contract.

What intellectual property rights can be transferred?

If an owner of a registered patent, trade mark, design, or plant breed, wishes to transfer their intellectual property ownership rights to another person or persons, they may do so in accordance with the relevant Intellectual property laws.

Is the creator of intellectual property always the owner?

The creator of intellectual property is not always the owner, as they may wish to sell or transfer their ownership rights to another person or persons. If the intellectual property was created in the course of their employment, often ownership rights belong to the employer. You should always ensure that you are dealing with the legal owner of intellectual property.

Do Intellectual Property Agreements expire?

Depending on the type of intellectual property that has been registered (patent, trademark, design, or plant breed), the ownership rights would have an expiry date. The expiry date is generally calculated from the day in which the original owner has applied for an Intellectual property registration, also known as the priority date.

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