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Proprietary Information and Inventions Agreement Template
A PIIA agreement is a specific type of IP assignment agreement often used between an employer and employee. This particular template is a raw output of Ontra's PIIA generator built on Gavel.
Or use a legal app to generate custom documents with your information
This PIIA agreement generator generates an IP assignment agreement for the terms of an employee's employment with an employer.
IP assignment agreement in which the ownership rights of intangible creations of the mind (e.g. art, designs, software, trade secrets) are transferred.
Also known as: IP Assignment
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Dorna Moini, JD
Founder, Gavel
Dorna Moini is the CEO and founder of Gavel, a no-code platform for building document automation and client-facing web applications for the law. Prior to starting Documate, Dorna was a litigator at Sidley Austin. There, in her pro bono practice, she worked with legal aid organizations to build a web application for domestic violence survivors to complete and file their paperwork, which led to the idea for Documate. Dorna is on the Legal Services Corporation Emerging Leaders Council and a member of LAFLA’s Advisory Board. She was named an ABA Legal Rebel and a Fastcase 50 honoree. She also teaches the Legal Innovations Lab at USC Law School.
Intellectual property assignment agreement word document, intellectual property assignment agreement pdf, intellectual property assignment agreement to copy/paste.
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For the high-growth startups we represent (and into which our venture capital clients invest), intellectual property (IP) is typically the core asset driving the company’s value. Ensuring that the company’s IP is properly owned and protected can therefore be the difference between success and failure. It is somewhat surprising then, how often founders fail to ensure that their companies do, in fact, own this critical property. Founders who eschew legal representation in favor of low-cost, automated options tend to fall into this trap most often. Most automated or semi-automated providers of startup legal documentation fail to provide even a basic IP assignment and confidentiality agreement—an essential document that all company personnel (founders included) must sign to ensure that IP is both validly assigned to the Company and protected from disclosure. When used with employees and consultants, IP assignment and confidentiality clauses are typically bundled into a single contract, often called a “Proprietary Information and Inventions Assignment Agreement” or a “Confidential Information and Inventions Assignment Agreement” (though there are many names that can be used here).
IP assignment agreements are contracts between a business and its personnel that transfer ownership of IP created by the personnel during their employment or engagement with the business. IP can include patents, trademarks, copyrights, and trade secrets. The agreement ensures that the business retains ownership of any IP created by the personnel, even after they leave the business. Even if your personnel are not involved in creating IP, it’s advisable to have these agreements in place—you never know where the next great idea might come from, and in any case, it’s easier to get this agreement signed than it is to explain to an investor or acquirer why you didn’t. Without an IP assignment agreement, personnel may be able to claim personal ownership of the IP they created, which can be deadly to a business that relies on IP for its value. If you are missing these agreements, investors and acquirers will notice and it can cause your financing or acquisition to fall through, particularly if the personnel who failed to sign have left or are otherwise unwilling to sign.
Confidentiality agreements, also known as non-disclosure agreements (NDAs), are contracts between a business and its personnel that prevent the personnel from disclosing confidential information about the business. Confidential information can include trade secrets, customer information, financial information, and any other information that is not publicly available. Most founders innately understand the importance of maintaining confidentiality, so rarely fail to have an NDA in place with individuals to whom they provide sensitive information. It should be noted, though, that having confidentiality agreements with your employees and consultants has become particularly important in recent years, as states and the federal government have sought to restrict the use of noncompetition agreements. Having a strong confidentiality agreement can be the key to ensuring that your ex-employees don’t take valuable information to your competitors.
While confidentiality obligations are self-explanatory and a “must-have”, you must also remember that an NDA does not necessarily include an IP assignment agreement. NDAs, particularly those provided by automated/semi-automated document providers, are often designed for use solely during preliminary conversations with potential commercial or collaboration partners. In that context, NDAs do not (and likely should not) have any clauses providing for the transfer of IP ownership. It is therefore critical that you do not simply ask your employees and contractors to sign a “standard” NDA—yes, that agreement will likely prevent those folks from sharing your sensitive information, but if you’re paying them to create IP for you, you’ll also want language that ensures that your company actually owns the work product they create.
Please remember, have your personnel (employees, contractors and even advisers) sign an IP assignment and confidentiality agreement, ideally on the day that individual first starts working for you. File that agreement away somewhere safe (ideally with your lawyer). These agreements ensure that the business retains ownership of its IP and that confidential information is kept secret. If you need help drafting IP assignment and confidentiality agreements, consult with a qualified attorney with experience in representing high-growth startups (believe it or not, there’s “magic language” needed to ensure these agreements work properly, and even a Supreme Court case about it).
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In a technology business, it is often the value of the intellectual property (IP) assets that the investor finances or the purchaser pays for. It is critical to have “clean” ownership of any intellectual property that is critical to the operation and success of your business. If your products and services depend on certain key IP assets, an investor will undertake due diligence to understand your right to use such assets.
An intellectual property assignment agreement provides assurance to investors that the founders have legally transferred to the company the intellectual property required to run the business.
Make sure to engage qualified IP counsel at a very early stage of your business to ensure that you have the freedom to operate your business with your inventions and to make certain that your business can meet the due diligence requirements of investors. MaRS has created a sample template of an intellectual property assignment agreement to help streamline business for investors, founders and their respective legal advisors. While MaRS makes this document available for educational purposes and to facilitate the negotiation of terms between investors and startups, the template is yours to use at your own risk . Please see the disclaimer below.
Download the Sample intellectual property assignment template
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You may be starting or acquiring a company. Then you need the Intellectual Property Assignment Agreement (IP) to transfer intellectual property. These include innovation patents, source code, and customer lists.
In a technology business, what the investor finances is often the IP assets .
Your products and services depend on certain critical IP assets. Then an investor will undertake due diligence. It will help him to understand your right to use such assets.
In this post, we will tell you why an IP assignment agreement is required. So, we will also list out the steps to draw such an agreement.
An IP assignment agreement is a contract.
It transfers the rights to the intellectual property from the creator. The rights go to another entity, such as an acquiring company.
You may (and should) ask your employees to sign the IP agreement. Additionally, this will assign to your company any ideas, work products, or inventions of the business.
Technology assignment agreement.
This assigns your startup any intellectual property before you form the company.
The developer(s) may keep individual intellectual property rights under certain circumstances. Hence, they may even sell the rights to you for equity or cash.
This assigns new company ownership of any relevant intellectual property created by employees.
The agreement includes the founder(s) and employees as signatories. So, they become parties to a confidentiality agreement and an invention assignment agreement.
You should include a couple of critical points in the agreement.
Assignment clause.
This requires employees to assign their inventions to your company. This will ensure you have total ownership of the intellectual property.
This could be narrowed to employee inventions only. It could be broadened to include anything the employee creates.
Therefore, your IP lawye r should include the following assignment clause into the IP agreement :
Your IP lawyer should include the following warranties into the IP agreement:
The Assignor represents and warrants that:
You can get this clause added to the agreement. This is so that the firm can administer the ownership rights without the employee. So, this is regardless of whether the employee is willing and able to assist.
An IP assignment agreement assures investors that the IP has been transferred. It consists of the intellectual property that is required to run the business.
Engage qualified IP counsel at the outset of your company. So, this ensures that you have the freedom to operate your business with your inventions.
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An intellectual property agreement is a formal contract between employees and employers that outline the terms and conditions for how an organization’s intellectual property is protected when employees create inventions as a function of their job.
DISCLAIMER : We are not lawyers or a law firm and we do not provide legal, business or tax advice. We recommend you consult a lawyer or other appropriate professional before using any templates or agreements from this website.
Why is an intellectual property agreement important, best practices to get the most out your intellectual property protection agreement, 1. help protect your employee's prior inventions, 2. get the timing right when presenting your ip agreement, 3. get employees to return materials and data, download our intellectual property agreement, faqs about intellectual property contracts, intellectual property agreement, intellectual property, prior inventions.
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Create and automate intellectual property assignment agreements more efficiently with this free template.
Securing intellectual property rights is crucial for innovators and businesses. Use this free intellectual property assignment agreement template to safeguard your innovations.
Intellectual property (IP) is a valuable asset for businesses, and ensuring its proper transfer and assignment is vital for both the assignor and the assignee.
So, what is an intellectual property assignment agreement? Why is it important, when should you use one, what should it encompass, and how can you manage them efficiently? Let's dive in.
An intellectual property assignment agreement is a legal document that facilitates the transfer of IP rights from one party (the assignor) to another (the assignee). This could relate to various forms of IP, including patents, trademarks, copyrights, and trade secrets.
The agreement delineates the terms and conditions under which the IP rights are transferred, ensuring clarity and protection for both parties involved.
Once both parties sign the intellectual property assignment agreement, it becomes legally binding. This means that the assignor relinquishes their rights to the specified IP, and the assignee becomes the new owner.
The agreement should clearly define the IP being transferred, any compensation involved, and the responsibilities of both parties post-transfer.
When do you need an Intellectual Property Assignment Agreement?
Such agreements are essential when:
Identification of parties. Clearly state the assignor and assignee, including their legal names and primary business locations.
Description of the IP. Detail the intellectual property being transferred, ensuring clarity on its scope and nature.
Compensation. Specify any payment or consideration for the IP transfer.
Warranties and representations: The assignor should confirm they own the IP and have the right to transfer it.
Confidentiality. If the IP contains confidential information, this section ensures both parties maintain secrecy.
Liability limitations. Define any limitations on liabilities for both parties.
Termination. Conditions under which the agreement can be terminated should be outlined.
Dispute resolution. Detail the mechanisms for resolving potential disagreements, such as arbitration or litigation.
Governing law. Specify the jurisdiction governing the agreement.
Miscellaneous provisions. Any other terms and conditions pertinent to the agreement.
Managing intellectual property assignment agreements can be cumbersome, especially when relying on traditional methods. Typically, teams:
This process is repetitive and can be streamlined with modern contract management platforms like Juro. With Juro, you can automate the entire process, from drafting to signing, ensuring efficiency and accuracy.
With platforms like Juro, you can:
Intellectual property is a valuable asset, and its proper assignment is crucial for businesses. By understanding the intricacies of intellectual property assignment agreements and leveraging modern tools, you can ensure a smooth and efficient transfer process.
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ContractsCounsel has assisted 35 clients with intellectual property assignment agreements and maintains a network of 61 intellectual property lawyers available daily.
An intellectual property (IP) assignment agreement is a legal contract between a party that transfers its intellectual property rights (assignor) to another party (assignee). This agreement outlines the specifics of the transfer, including the type of IP, the scope of the assignment , compensation, and conditions.
The purpose of an IP assignment agreement is to facilitate the transfer of patents, copyrights , trademarks , and other valuable IP. For this reason, it is vital that an IP assignment agreement is thoroughly reviewed before the parties execute the contract.
To review an IP assignment agreement, follow these steps:
Reviewing an IP Assignment Agreement requires an eye for detail and a deep understanding of the legal implications of transferring intellectual property ownership rights.
When you hire an attorney to review this type of contract, you are ensured that your rights and interests are protected. An intellectual property lawyer will have experience with assignment agreements and will know what terms must be included to make the contract legally binding and enforceable.
A comprehensive IP assignment agreement should include the following key terms:
If you are unsure what provisions should be added to your agreement to best protect your interests, always consult with an experienced intellectual property attorney.
To successful assign intellectual property to an assignee through an assignment agreement, the following process should be followed:
Each step in this process is vital to transfer intellectual property rights legally and securely between parties.
IP assignment typically occurs through three major methods:
Each of these methods are used in different scenarios with different purposes. Whenever you are planning to assignment intellectual property rights, always consult with an attorney to determine which method is right for you.
Yes. Even though it is not legally required for a lawyer to draft and review an IP assignment agreement, it is highly recommended to have a legal professional create or at least review this contract.
Hiring a lawyer to review your contract provides the following benefits:
An IP assignment agreement can have significant legal and financial implications for the assignor and assignee. Any mistakes could lead to disputes between the parties or even an infringement lawsuit.
When you hire a lawyer to review the IP assignment agreement, the lawyer will ensure that the contract is fair, follows all applicable laws in the jurisdiction, and will be legally enforceable if a dispute arises.
Do you need help with an IP assignment agreement? If so, post a project in ContractsCounsel's marketplace to receive bids from lawyers who are licensed to practice law in your state and can handle your project. All lawyers on the ContractsCounsel's platform are vetted by our team to make sure you are provided with top-tier service.
ContractsCounsel is not a law firm, and this post should not be considered and does not contain legal advice. To ensure the information and advice in this post are correct, sufficient, and appropriate for your situation, please consult a licensed attorney. Also, using or accessing ContractsCounsel's site does not create an attorney-client relationship between you and ContractsCounsel.
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Keep the IP created for your startup, in your startup.
An Intellectual Property Assignment Agreement is a contractual transfer of the ownership of IP (anything which can be ‘created with the mind’: registered IP such as trademarks and patents, and unregistered IP such as copyrights, designs, concepts, know-how, websites, social media accounts and source code) from the owner/ creator to the startup. In legal documents, the owner/creator is known as the ‘assignor’ (usually the founder, employee, contractor, advisor etc.), while the ‘startup’ in question is likely to be your startup’s topco. By transferring the IP, the startup has the legal right to it under contract.
Generate this document to keep your IP safe. In the future, an assignor could claim that IP created while working for your startup belongs to them. An Intellectual Property Assignment Agreement prevents this from having an impact on your business. Startups also use this document to ensure that the assignor takes any actions necessary to complete the transfer of any IP to your startup (e.g. transfer a trademark registration or a social media account).
Login into your account (or sign-up, if you don’t have one).
Go to the Generate Documents tab, choose International from the dropdown and select IP Assignment Agreement.
Complete each field in the form and select your various options.
Once you generate the document, you can save it in draft, edit it, and when final, send it for signature through our built-in DocuSign integration.
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Founders are often risk-takers with lots of energy and great business ideas. And that is fantastic, as long as you remember to set up the correct legal foundation for your venture. Not having the proper legal basis for your startup might be too big a risk. Having the correct legal documents in place is essential for the future success of your startup.
Mar 07 · 9-minute read
One way to protect your startup from unfair competition is to include non-compete clauses in your employment contracts. You could also have a non-compete in the shareholders agreement that you sign with your investors.
May 11 · 9-minute read
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Fact sheet: commercialising intellectual property - assignment agreements.
This fact sheet deals with the assignment of Intellectual Property (IP) rights. An assignment can be beneficial in many business circumstances. Examples may include your company not having the means to undertake commercialisation or preferring to receive a once-off lump sum payment for the innovative technology. This implies having no further concerns regarding the maintenance and enforcement of the IP rights.
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An IP assignment is a transfer of ownership of an intellectual property right, such as a patent, trade mark or copyright, from one party (the assignor) to another party (the assignee). This infographic adds together the benefits, risks and the key elements of assignment agreements.
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IP can be transferred or licensed, offered to enter into cooperation agreements or contributed as capital in a joint venture. Protecting and managing IP through well-drafted agreements is key for business success. Therefore, the purpose of this guide on IP and contracts is to be a useful tool regarding IP exploitation and management. It aims to help businesses better understand contracts in the IP field and to get an idea on different key points and how these should be drafted.
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An intellectual property assignment agreement is a legally binding contract that transfers ownership of intangible assets, such as patents, trademarks, copyrights, and trade secrets, from one party to another. This agreement establishes clear boundaries and legal clarity regarding the ownership and usage of intellectual property rights.
Intellectual property assignment is a process in which the ownership of a work product created for an entity by an employee or consultant is transferred to the entity. Typically, an employee or consultant will sign an agreement that explicitly assigns any intellectual property created during service with the company.
An Intellectual Property Assignment Agreement is a legal document that ensures the transfer of an inventor or creator's rights to another person or company. Essentially, it's a legal way of saying "what's mine is now yours". These agreements are often used in situations involving startups, company buyouts, or employees creating new works or ...
An assignment of intellectual property agreement is a contract that transfers the intellectual property rights (For example, patents, trademarks, industrial designs, or copyrights.) from the creator to another entity. The intellectual property rights holder may transfer all or part of their rights. The transfer of intellectual property rights ...
An IP assignment agreement is an agreement that designates the ownership of intellectual property. Companies often use IP assignment agreements to secure their inventions and developments but also to transfer ownership of intellectual property as needed. These assignment agreements are used for transferring intangible property like a copyright ...
Intellectual property assignment agreement: How-to guide. In the dynamic realm of commerce and innovation, the notion of property extends far beyond physical boundaries. Just as one might transfer ownership of a house or a car, the exchange of intellectual property (IP) rights is a critical component of modern business transactions. For ...
An intellectual property assignment agreement should be used whenever transferring the rights in intellectual property ( IP ). There are a number of situations where you may need to do this. The most common for SMEs is where an individual has done work for a company as a consultant without using a consultancy agreement with the result that the ...
Intellectual Property Assignment Agreement vs. Intellectual Property License. Which is better, an intellectual property assignment agreement or an intellectual property license? The reality is that there are pros and cons to each choice, depending on your needs and interests. Most of the time, IP holders want to maintain control of their IP ...
With IP assignement and IP licensing, IP owners can also use your IP rights to create additional revenue streams by selling them out, giving others a permission to use them, and establishing joint ventures or other collaboration agreements with others who have complementary assets. Expert tip: Assignment, license and franchising agreements are ...
This Intellectual property agreement is entered into on (date) and will be effective from the same date, between [Sender.FirstName] [Sender.LastName] and [Employee.FirstName] [Employee.LastName] (Receiver). As a condition of my employment with the Company, its subsidiaries, affiliates, successors or assigns (hereinafter, the "Company"), and in consideration of my employment with the ...
A PIIA agreement is a specific type of IP assignment agreement often used between an employer and employee. This particular template is a raw output of Ontra's PIIA generator built on Gavel. Intellectual Property Assignment Agreement Word Document
IP assignment agreements are contracts between a business and its personnel that transfer ownership of IP created by the personnel during their employment or engagement with the business. IP can include patents, trademarks, copyrights, and trade secrets. The agreement ensures that the business retains ownership of any IP created by the ...
Intellectual property (IP) assignment agreement: Sample template for Ontario startups. In a technology business, it is often the value of the intellectual property (IP) assets that the investor finances or the purchaser pays for. It is critical to have "clean" ownership of any intellectual property that is critical to the operation and ...
Fact-Checked. If you do creative, engineering, design, or development work, your employer might ask you to sign an invention assignment agreement: a contract giving your employer ownership rights in inventions and intellectual property you develop during your employment. Read on to learn whether these agreements are enforceable, what they ...
An IP assignment agreement is a contract. It transfers the rights to the intellectual property from the creator. The rights go to another entity, such as an acquiring company. You may (and should) ask your employees to sign the IP agreement. Additionally, this will assign to your company any ideas, work products, or inventions of the business.
An IP assignment agreement is a legal contract that facilitates the transfer of intellectual property (IP) rights from one party to another. Importantly, it defines specifics such as what IP is being transferred (e.g., patents, trade marks, copyrights). It also ensures that the assignee receives all rights, titles, and interests in the IP.
An intellectual property agreement is a formal contract between employees and employers that outline the terms and conditions for how an organization's intellectual property is protected when employees create inventions as a function of ... Assignment - The Parties agree not to assign the responsibilities in this Agreement to any third ...
An intellectual property assignment agreement is a contract that transfers the intellectual property rights (For example, patents, trademarks, industrial designs, or copyrights) from the creator to another entity. The intellectual property rights holder may transfer all or part of their rights. The transfer of intellectual property rights is ...
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 ...
An intellectual property assignment agreement is a legal document that facilitates the transfer of IP rights from one party (the assignor) to another (the assignee). This could relate to various forms of IP, including patents, trademarks, copyrights, and trade secrets. The agreement delineates the terms and conditions under which the IP rights ...
An intellectual property (IP) assignment agreement is a legal contract between a party that transfers its intellectual property rights (assignor) to another party (assignee). This agreement outlines the specifics of the transfer, including the type of IP, the scope of the assignment, compensation, and conditions.
An Intellectual Property Assignment Agreement is a contractual transfer of the ownership of IP (anything which can be 'created with the mind': registered IP such as trademarks and patents, and unregistered IP such as copyrights, designs, concepts, know-how, websites, social media accounts and source code) from the owner/ creator to the startup.
Infographic: Commercialising IP - Assignment Agreements. An IP assignment is a transfer of ownership of an intellectual property right, such as a patent, trade mark or copyright, from one party (the assignor) to another party (the assignee). This infographic adds together the benefits, risks and the key elements of assignment agreements.