A patent is a grant of a property right by the Government to an inventor. The United States Constitution gives Congress the right to provide for patent protection in legislation in order to encourage useful inventions. The patent itself provides a detailed description of the invention, and how it is used or how to make it. Thus, if you obtain a patent you cannot keep the matter secret, which is the province of Trade Secret Law. A patent enables the owner to exclude others from making, using or selling the invention for the life of the patent.
Idaho Assignment of Rights in Invention Prior to Execution of Application is a legal document that transfers ownership of intellectual property rights from the inventor to another entity before the submission of a patent application. This agreement is commonly used in Idaho to protect the interests of businesses, investors, or universities who wish to secure rights to an invention before it is officially patented. The primary purpose of an Idaho Assignment of Rights in Invention Prior to Execution of Application is to ensure that the entity receiving the rights has full control and ownership over the invention. By transferring ownership, the inventor relinquishes any rights to the invention and allows the assignee to proceed with the patenting process, commercialization, or licensing arrangements. There are various types of Idaho Assignment of Rights in Invention Prior to Execution of Application tailored to different scenarios and parties involved. Some of these include: 1. Corporate Assignment of Rights: This type of agreement is used when an employee or contractor invents something within the scope of their employment. The employer, typically a company or organization, becomes the assignee and holds the sole rights to the invention. 2. University or Academic Institution Assignment: In the case of inventions made by faculty members, researchers, or students at universities, an assignment agreement may be required to ensure the university can assert ownership over the invention. This enables the institution to protect its intellectual property and potentially commercialize the invention. 3. Investor Assignment: Investors who provide funding for research and development may require an assignment of rights in invention prior to execution of the application to protect their financial interests. This allows them to secure ownership of the invention and potentially receive future profits or licensing fees. 4. Joint Inventor Assignment: In cases where multiple inventors contribute to the creation of an invention, a joint inventor assignment agreement may be necessary. This ensures that each inventor assigns their rights to the same entity, avoiding potential conflicts or disputes. It is important to note that an Idaho Assignment of Rights in Invention Prior to Execution of Application should be carefully drafted with the assistance of legal professionals to ensure that all relevant details and specifics are included. This helps to safeguard the rights of both parties involved, providing clear guidelines on ownership and potential future use of the invention.
