IP Assignment Agreement

An IP Assignment Agreement is a legal document that transfers ownership of intellectual property rights from one party (assignor) to another (assignee). This can include patents, trademarks, copyrights, trade secrets, or any combination thereof. The agreement should clearly identify the IP being transferred, specify whether the assignment is complete or limited to certain rights or territories, address warranties about ownership and non-infringement, and state the consideration (payment or other value) exchanged. IP assignments are common in employment agreements (assigning employee inventions to employer), acquisitions (transferring company IP to buyer), and commercialization deals. The assignment should be recorded with appropriate government offices (USPTO for patents/trademarks, Copyright Office for copyrights) to provide public notice. Unlike a license which grants permission to use IP while the licensor retains ownership, an assignment transfers ownership itself.