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Assignment Of Invention Agreement

Assignment Of Invention Agreement Template for Nigeria

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Key Requirements PROMPT example:

Assignment Of Invention Agreement

"I need an Assignment of Invention Agreement under Nigerian law for transferring my new agricultural processing technology from my research company to a major manufacturing corporation, with the agreement to take effect from March 1, 2025 and include provisions for ongoing technical support."

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Document background
The Assignment Of Invention Agreement is a crucial legal instrument used in Nigeria when transferring ownership rights of an invention from one party to another. It is commonly used in corporate transactions, research collaborations, employee-employer relationships, and technology transfer scenarios. The agreement must comply with Nigerian patent law, particularly the Patents and Designs Act, and includes essential provisions for the complete transfer of intellectual property rights, technical knowledge, and related documentation. This document is particularly important in protecting both parties' interests, ensuring clear ownership rights, and facilitating the commercialization of innovations. It typically contains detailed descriptions of the invention, consideration terms, warranties, and obligations for future cooperation in patent prosecution or implementation.
Suggested Sections

1. Parties: Identifies and provides full details of the Assignor and Assignee

2. Background: Establishes context, including the Assignor's ownership of the invention and desire to transfer it to the Assignee

3. Definitions: Defines key terms used throughout the agreement, including 'Invention', 'Intellectual Property Rights', and 'Documentation'

4. Assignment and Transfer: Core provision detailing the transfer of all rights, title, and interest in the invention

5. Consideration: Specifies the payment or other consideration for the assignment

6. Representations and Warranties: Assignor's warranties regarding ownership, right to assign, and non-infringement

7. Further Assurances: Obligations to execute additional documents and assist with patent applications or proceedings

8. Confidentiality: Provisions for maintaining confidentiality of the invention and related information

9. Governing Law and Jurisdiction: Specifies Nigerian law as governing law and sets jurisdiction for disputes

10. General Provisions: Standard boilerplate clauses including notices, amendments, and severability

Optional Sections

1. Revenue Sharing: Optional section for arrangements where ongoing royalties or revenue sharing is part of the consideration

2. Technology Transfer: Details of any technical knowledge transfer process, required when the invention needs specific expertise to implement

3. Regulatory Compliance: Specific provisions for regulatory approvals, needed when the invention requires governmental or regulatory oversight

4. Third Party Rights: Addresses any existing licenses or third-party rights, included when relevant

5. Tax Provisions: Specific tax-related provisions, included for high-value assignments or international transfers

6. Improvement Rights: Provisions dealing with future improvements to the invention, included when ongoing development is expected

Suggested Schedules

1. Schedule 1 - Description of the Invention: Detailed technical description of the invention being assigned

2. Schedule 2 - Existing Patents and Applications: List of any existing patents or patent applications related to the invention

3. Schedule 3 - Assignment Consideration: Detailed breakdown of payment terms and schedule

4. Schedule 4 - Related Documentation: List of all technical documentation, drawings, and other materials being transferred

5. Appendix A - Form of Patent Assignment: Standard form for patent office registration of the assignment

6. Appendix B - Technical Specifications: Detailed technical specifications and drawings of the invention

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions




































Clauses



























Relevant Industries

Technology

Manufacturing

Pharmaceutical

Biotechnology

Energy

Telecommunications

Automotive

Chemical

Agriculture

Healthcare

Research and Development

Education

Defense

Consumer Electronics

Industrial Engineering

Relevant Teams

Legal

Research and Development

Intellectual Property

Innovation

Corporate Development

Technology Transfer

Product Development

Executive Leadership

Patent Administration

Technical Documentation

Relevant Roles

Chief Technology Officer

Research and Development Director

Patent Attorney

Intellectual Property Manager

Innovation Manager

Legal Counsel

Technology Transfer Officer

Research Scientist

Product Development Manager

Chief Executive Officer

Chief Legal Officer

Inventor

Patent Engineer

Technology Licensing Manager

Corporate Development Director

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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