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.
The Wisconsin Assignment of Rights in Invention Prior to Execution of Application refers to a legal document that transfers ownership of an invention from the inventor to another party, typically the employer or an organization. This assignment of rights is specifically executed before the application for the patent is made. In Wisconsin, there are two main types of Assignment of Rights in Invention Prior to Execution of Application: 1. Express Assignment: An express assignment of rights is a written agreement between the inventor and the assignee, clearly outlining the transfer of ownership and the specific invention involved. This type of assignment provides a transparent and legally binding arrangement. 2. Implied Assignment: An implied assignment occurs when the inventor's actions and conduct suggest an intent to transfer ownership of the invention to the employer or organization. This may be implied through the terms of employment or the inventor's obligations related to their work. When executing a Wisconsin Assignment of Rights in Invention Prior to Execution of Application, it is crucial to consider the following key elements: 1. Parties involved: Clearly identify the inventor(s) who is transferring the rights and the assignee(s) who will receive the ownership of the invention. 2. Description of the invention: Provide a detailed description of the invention, including its purpose, functionality, and any unique features or innovations. 3. Consideration: Define the consideration being provided to the inventor in exchange for the assignment of rights. This may include monetary compensation, royalties, or other forms of remuneration. 4. Timeframe: Specify that the assignment of rights is effective before the execution of the patent application. 5. Legal clauses: Include indemnity clauses, non-disclosure provisions, and any other relevant terms to protect the interests of both parties. 6. Jurisdiction: Clearly state that the assignment is governed by the laws of Wisconsin and any disputes arising out of the agreement will be resolved within the state's legal jurisdiction. It is always advisable to consult an experienced intellectual property attorney to ensure that all legal requirements are met and that the assignment of rights is properly executed. This helps safeguard the interests of both the inventor and the assignee when dealing with intellectual property ownership.
