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Patent Application Assignment Basics

If you've invented a great new product and you don't want to wait years before you start profiting from it, you can file a Patent Application Assignment to transfer or sell your rights ahead of time. You can use this document to transfer the rights to your patent application to your company, or another entity or person, well before the patent application is approved. You can also use a Patent Application Assignment to change the name on a pending patent.

Use the Patent Application Assignment document if:

  • You're an inventor who needs to transfer rights to your employer.
  • You want to buy or sell a patent assignment while the application is pending.
  • You need to add, change, or remove a patent owner or inventor.

Getting a patent is a hurry-up-and-wait process: according to the U.S. Patent and Trademark Office, it can take an average of 2 to 3 years. If you want to make sure the right person has the rights to your new idea when you get the government's stamp of approval for its originality, you can jump the gun with a Patent Application Assignment. It won't get you a patent faster, but it will protect you, whether you're the inventor or the other party interested in the rights. Nobody wants to wait two years?or more?for a patent to be approved. A Patent Application Assignment can help you declare or change who owns the rights to the new invention, even as you wait for it to become official.

Other names for this document: Patent Assignment, Patent Application Assignment Form

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