How it works
When you have the chance to sell the patent for your new invention, a Patent Assignment acts your bill of sale. If you're the one taking over the rights to a patent, you'll want to have all the details on the record. It doesn't matter if the patent is not yet registered - you can still use this Patent Assignment to complete the deal.
A Patent Assignment is similar to transferring ownership of a car - you need to do the paperwork before it's official. It comes into play whenever a patent is transferred or sold. Maybe you own a company that's staffed by innovative employees. You have a right to their work-related ideas and products, but if you want to sell them, you'll have to jump through the right legal hoops. If you're an inventor, you've invested time in your new gadget, so you want to make sure it pays off. A Patent Assignment gives patent owners the option of retaining part of their rights. More than one person can own a patent, so you can also use this document to add or remove owners. If you're going into business with someone, it's a good idea to work out in advance who owns what share. We'll walk you through all the steps you need to transfer, buy, or sell a patent.
Other names for this document: Patent Assignment Form, Patent Assignment Contract
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