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.
Michigan Assignment of Rights in Invention Prior to Execution of Application is a legal agreement that establishes the ownership and transfer of intellectual property rights related to an invention. This assignment is specifically applicable to the state of Michigan and outlines the rights and responsibilities of the parties involved. In Michigan, there are several types of Assignments of Rights in Invention Prior to Execution of Application, each designed to address specific scenarios and circumstances. These assignments ensure that the inventor's rights are protected and properly transferred before the execution of a patent application. Below are a few notable types: 1. General Assignment: This assignment is a broad transfer of intellectual property rights from the inventor(s) to a designated assignee. It covers all existing and future inventions and associated rights. 2. Limited Assignment: In certain cases where specific inventions or categories of inventions are intended to be assigned, a limited assignment can be used. This type of assignment only transfers rights for the specified inventions or categories, leaving all other rights with the inventor(s). 3. Exclusive Assignment: An exclusive assignment grants the assignee sole ownership and control over the assigned invention. No other party, including the inventor(s), can make claims or exercise rights related to the assigned invention. 4. Non-Exclusive Assignment: In contrast to an exclusive assignment, a non-exclusive assignment grants the assignee specific rights to the invention while allowing the inventor(s) to retain ownership and license the invention to other parties. 5. Royalty Arrangement Assignment: In some cases, an inventor might choose to assign the rights to an invention in exchange for a royalty arrangement. This type of assignment establishes a payment structure where the assignee pays the inventor(s) a percentage of profits or revenue generated from the invention. Regardless of the specific type of Michigan Assignment of Rights in Invention Prior to Execution of Application, it is crucial for both the inventor(s) and assignee to fully understand the terms and obligations outlined in the agreement. Consultation with a qualified intellectual property attorney is highly recommended ensuring compliance with Michigan laws and to protect the rights of all parties involved.
