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These assign to the employer ownership rights over any inventions created while employed. Below, we discuss the purposes and effects of these agreements. Although such agreements are common and enforceable in all states, some states, including California, impose restrictions on them.
Typically, this type of agreement requires the employee to disclose any such inventions to the employer, to "assign" (legally transfer) ownership rights in such inventions to the employer, and to assist the employer in getting a patent on any such inventions. Need Professional Help?
What is an invention agreement? An invention assignment agreement is a contract that gives the employer certain rights to inventions created or conceptualized by the employee during the employment relationship. In other words, all inventions not listed are assumed to be the property of the employer.
Using an IP assignment agreement, sellers surrender all ownership rights to the intellectual property and no longer have any say over how the IP is used. This gives the buyer complete control and ownership rights of the intellectual property involved.
An inventions assignment agreement is a typical feature of an independent contractor or employee agreement where the worker agrees to assign any intellectual property rights arising from the worker's services to the company.
An invention assignment agreement is a contract in which an employee or independent contractor assigns intellectual property rights for their services to the company. These agreements typically appear in other employment documents such as confidentiality agreements or an independent contractor agreement.