ASSIGNMENT
CONTRACT
OF PATENT RIGHTS
This
agreement was entered on ________________________________ (Date) between
________________________________________________________ (Name), the inventor,
and _________________________________________________ (Name), the assignee.
SECTION ONE: ASSIGNMENT OF PATENT RIGHTS
In
return for consideration in the amount of $ ___________ to be paid by the
assignee, the inventor hereby agrees to assign to the assignee the following
patent applications or patent numbers along with all the powers and privileges
relating thereto.: (Give the
application numbers, title of the inventions, filing dates for any applications,
or the patent numbers, title of the invention and issue dates of any patents
here)
______________________________________________________________________
______________________________________________________________________
SECTION TWO: EXECUTION OF EFFECTUAL TRANSFER
At
the assignees request, the inventor will execute an effective transfer of the
above patent rights to the assignee after the assignee has paid the agreed
consideration set out above.
SECTION THREE: EFFECTIVE DATE OF ASSIGNMENT
This
assignment will take effect on ________________________ (Date). At that time, the assignee must pay the
purchase price to the inventor upon receiving an instrument effectively
transferring the specific patent rights to the assignee. This instrument of transfer is to be
prepared by the inventor at his/her own expense.
SECTION FOUR: LIQUIDATED DAMAGES
Since
monetary damages for the breach of this agreement would be difficult to
compute, the parties hereby agree that, in the event of a default, the
defaulting party must pay to the other party the sum of $ _______________ as
liquidated damages.
This
agreement was executed at __________________________________ (Location) on
_______________________ (Date).
___________________________________ ___________________
Signature
of Inventor Date
___________________________________ ___________________
Signature
of Assignee Date
