Puerto Rico Contract for Assignment of Patent Rights
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How to fill out Contract For Assignment Of Patent Rights?
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FAQ
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.
Patent Rights means all patents, patent applications, utility models, design registrations and certificates of invention and other governmental grants for the protection of inventions or industrial designs (including all related continuations, continuations-in-part, divisionals, reissues and reexaminations).
The United States Code authorizes anyone who invents or discovers inventive subject matter to obtain a patent. An inventor is one who, alone or with others, first invents a new and useful process, machine, composition of matter, or other patentable subject matter.
AssignmentA patent which is created by deed can only be assigned by a deed. A legal assignee entitled as the proprietor of the patent acquires all rights thereof.
An inventor has no legal right to exploit or commercialise an invention covered by a patent. An invention is solely the property of the applicant/proprietor, meaning they can exercise their rights independently of an inventor.
The USPTO does not require patent assignments to be notarized. The patent office only requires that the assignment be executed and signed by both the assignor and the assignee. Once an agreement is executed and signed by the parties, the assignment must be recorded with the patent office.
The patent owner may give permission to, or license, other parties to use the invention on mutually agreed terms. The owner may also sell the right to the invention to someone else, who will then become the new owner of the patent.
Legal Assignment: An assignment (or an agreement to assign) of an existing patent is a legal assignment, where the assignee may enter his name as the patent owner. A patent which is created by deed can only be assigned by a deed. A legal assignee entitled as the proprietor of the patent acquires all rights thereof.
Fee and Payment. In order for a patent assignment agreement to be valid, there must be consideration or payment. It must be specified and paid at signing, even if at the time of employment.
It gives you the right to take legal action against anyone who makes, uses, sells or imports it without your permission. To be granted a patent, your invention must be all of the following: something that can be made or used. new. inventive - not just a simple modification to something that already exists.
