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Hear this out loud PauseSome inventors prefer to sell their invention rather than retain the patent to it. You can assign your patent at any time, including before the patent is approved. You can even assign future patent rights to an invention that isn't yet patented.
The term "nunc pro tunc" is a Latin expression that means "now for then." A nunc pro tunc assignment is thus essentially a retroactive assignment document that is used to reduce an assignment to writing now which has happened.
Though the agreement is a legal document, it does not need to be notarized. However, obtaining notarization for the signatures provides added protection, limiting the risk of a party later claiming a signature was not valid.
IP Assignment clauses are featured in contracts when an owner's intellectual property rights are to be assigned or transferred to another entity or individual, usually in return for some type of consideration. IP Assignment clauses are a valuable contractual provision employed to enable the assignment of IP.
During examination of a pending patent application or after the patent is granted, the owner of the patent may change: 1) the original owner may transfer ownership to another entity or party, through an "assignment;" or 2) the original owner may retain ownership but change its name.