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The Assignment And License Of Patent agreement is a sophisticated legal instrument used in Nigeria when a patent owner wishes to transfer ownership of their patent rights while simultaneously establishing licensing arrangements. This document is particularly useful in scenarios involving technology transfer, corporate restructuring, or strategic business partnerships. It must comply with the Nigerian Patents and Designs Act and related regulations, including requirements for registration with the Nigerian Patent Office. The agreement typically includes detailed provisions about the scope of assignment, licensing terms, territorial rights, royalty structures, and obligations for technical support or knowledge transfer. It's commonly used in technology-driven industries where companies need to both transfer patent ownership and maintain specific usage rights, or when establishing manufacturing and distribution arrangements that require both ownership transfer and licensing provisions.
