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Assignment is a legal term whereby an individual, the ?assignor,? transfers rights, property, or other benefits to another known as the ?assignee.? This concept is used in both contract and property law. The term can refer to either the act of transfer or the rights/property/benefits being transferred.
The assignment must be done in writing to be valid. Although notarization isn't required, it's a good idea to have someone witness the assignor and assignee signing and dating the agreement. Transfer of ownership usually involves monetary exchange, although that's not a requirement.
An assignment transfers ownership and title to the assignee, whereas a licence grants the licensee permission to use the IP ? usually for a limited time period - whilst ownership of the patent remains with the licensor.
A copyright transfer is typically accomplished through a contract, like the written agreement form that follows. Although not technically required, assignments should also be recorded with the U.S. Copyright Office (USCO) to provide notice of the ownership change.
The new Recordation System allows users to electronically submit transfers of copyright ownership and other documents pertaining to a copyright for recordation.
An assignment is the legal transfer of ownership of any property such as a trademark or copyright from one owner to another. The transferee or "assignee" is the person who acquires ownership, and the transferor or "assignor" is the person who transfers ownership rights.
1) A transfer of property or ownership rights from one person to another, called the "assignee." For example, a lease may be assigned from one tenant to another. Or, ownership rights for a patent, copyright, trademark, or trade secret may be transferred by assignment. 2) The property or rights that are transferred.
The transfer of a right from one party to another. For example, a party to a contract (the assignor) may, as a general rule and subject to the express terms of a contract, assign its rights under the contract to a third party (the assignee) without the consent of the party against whom those rights are held.