South Carolina Agreement between Joint Patent Holders with Title of one Holder Assigned

• Category: Copyrights Patents and Trademarks - Contracts
• State: Multi-State
• Control #: US-02424BG
• Format: Word; PDF; Rich Text

Description

Patents grant an inventor the right to exclude others from producing or using the inventor's discovery or invention for a limited period of time. In order to be patented an invention must be novel, useful, and not of an obvious nature. There are three types of patents: A. utility patent which includes a process, a machine (mechanism with moving parts), manufactured products, and compounds or mixtures (such as chemical formulas);B. A design patent which is a new, original and ornamental design for a manufactured article; and C. A plant patent which is a new variety of a cultivated asexually reproduced plant.

The Federal agency charged with administering patent laws is the Patent and Trademark Office.

Title: South Carolina Agreement between Joint Patent Holders with Title of one Holder Assigned Keywords: South Carolina, Agreement, Joint Patent Holders, Title, Assigned Introduction: In South Carolina, when multiple parties collaborate to create and own a patent, it becomes imperative to establish clear agreements to govern the rights, responsibilities, and ownership of the intellectual property. This article explores the South Carolina Agreement between Joint Patent Holders, specifically focusing on situations where the title of one holder is assigned. Types of South Carolina Agreement between Joint Patent Holders with Title of one Holder Assigned: 1. Assignment Agreement: In this type of agreement, one joint patent holder assigns their title, rights, and interests in the patent to another party while maintaining ownership or partial ownership. The assigned party becomes the sole titleholder, assuming all associated rights and responsibilities while compensating the assigning party, as outlined in the agreement. 2. Licensing Agreement: Under a licensing agreement, one joint patent holder grants the other party the right to use, manufacture, market, or sell the patented invention while the title remains with the assigning party. Royalties or license fees may be established, serving as compensation for the joint patent holder whose title is assigned. 3. Transfer Agreement: The transfer agreement involves the complete transfer of title, rights, and interests from one joint patent holder to another. The assigning party relinquishes all ownership and no longer has any involvement or claim over the patent. Transfers may occur for financial compensation or as part of a business transaction. 4. Exclusive Agreement: In an exclusive agreement, one joint patent holder assigns their title exclusively to another party, granting them the sole right to exploit and enforce the patent. The assigning party loses all rights and cannot further transfer or license its title to any other entity. 5. Non-Exclusive Agreement: A non-exclusive agreement allows one joint patent holder to assign their title to another party while retaining the right to assign or license the title to additional parties. Both the assigning and assigned parties can independently exploit and enforce the patent, ensuring multiple entities can benefit from its usage. Conclusion: South Carolina recognizes the need for agreements between joint patent holders to ensure a clear and harmonious relationship. In cases where the title of one holder is assigned, different types of agreements, such as assignment agreements, licensing agreements, transfer agreements, exclusive agreements, and non-exclusive agreements, outline the rights and responsibilities of the involved parties. These agreements provide a framework for fair compensation and delineate the extent of control and ownership established by the joint patent holders.