Kansas Assignment of Rights Under Patent Application and Patents That May Be Issued
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FAQ
The transfer of patent rights through assignment involves a formal agreement indicating who now holds ownership of the patent. This can include conditions related to usage and future profits. Properly handling this transfer is essential, especially in the context of the Kansas Assignment of Rights Under Patent Application and Patents That May Be Issued.
A patent assignment is an agreement where one entity (the assignor) transfers all or part of their right, title and interest in a patent or application to another entity (the assignee).
Patent applications must satisfy the following three criteria:Novelty. This means that your invention must not have been made public not even by yourself before the date of the application.Inventive step. This means that your product or process must be an inventive solution.Industrial applicability.
A patent or patent application is assignable by an instrument in writing, and the assignment of the patent, or patent application, transfers to the assignee(s) an alienable (transferable) ownership interest in the patent or application.
For a patent to issue to an assignee, the assignment must have been recorded or filed for recordation in accordance with 37 CFR 3.11. See 37 CFR 3.81(a). (B) An assignment can be made of record in the file of a patent application, patent, or other patent proceeding (e.g., reexamination proceeding).
Basically speaking, a patent assignment is a legal way for an inventor to transfer ownership of a patent to a business. As you may recall, in the United States, only a person (or group of people) can be listed as the inventor of a patent; a business cannot be listed as the inventor.
A patent application and any resulting patent is owned by the inventor(s) of the claimed invention, unless a written assignment is made or the inventors are under an obligation to assign the invention, such as an employment contract.
Assignee: Organization(s) and individual(s) that have an ownership interest in the legal rights a patent offers. There may or may not be an assignee. An assignee is often the organization employing the inventor of the technology. An assignee can also change at a later date.
A patent is considered as a transferrable property that can be transferred from the original patentee to any other person by assignment or by operation of law. A patent can be licensed or assigned only by the owner of the patent.
Assigning your patent rights to your company helps to build the asset valuation of your company, which will be important to any investors or lenders you may seek. Investors and lenders will often require you to assign patent rights to your company before they will complete a transaction with your company.