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Assignment Of Invention Agreement

Assignment Of Invention Agreement Template for New Zealand

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Key Requirements PROMPT example:

Assignment Of Invention Agreement

"I need an Assignment of Invention Agreement for transferring ownership of a new software encryption algorithm from our lead developer to our tech company, with the assignment to take effect from March 1, 2025, and including provisions for future improvements of the algorithm."

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Document background
The Assignment Of Invention Agreement is a crucial legal document used in New Zealand when transferring ownership rights in an invention from one party to another. This document is particularly important in commercial, research, and employment contexts where inventions need to be legally transferred to companies, institutions, or other entities. It ensures compliance with New Zealand's Patents Act 2013 and other relevant legislation while providing comprehensive protection for both assignor and assignee. The agreement typically includes detailed descriptions of the invention, terms of transfer, warranties about ownership and non-infringement, and provisions for future cooperation in patent prosecution or enforcement. It's commonly used in situations involving employee inventions, commercial transfers, or research collaboration outcomes.
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 the parties' intention to transfer rights

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

4. Assignment: Core provision transferring all rights, title, and interest in the invention from Assignor to Assignee

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 Assurance: Obligations to execute additional documents and assist with patent applications or proceedings

8. Confidentiality: Obligations to maintain confidentiality of invention details and agreement terms

9. Governing Law and Jurisdiction: Specifies New Zealand law as governing law and jurisdiction for disputes

Optional Sections

1. Moral Rights: Required when the invention includes copyrightable elements, addressing waiver or assertion of moral rights

2. Third Party Rights: Include when other parties may have rights or interests in the invention

3. Tax Provisions: Include when the assignment has significant tax implications or requires specific tax treatment

4. Security Interest: Include when payment is in installments or there are security arrangements

5. Employee Obligations: Include when the inventor is an employee and continuing obligations need to be addressed

6. Improvements: Include when future improvements to the invention should also be covered by the assignment

Suggested Schedules

1. Schedule 1 - Invention Description: Detailed technical description of the invention, including any patent applications or grants

2. Schedule 2 - Payment Terms: Detailed breakdown of consideration and payment schedule, if applicable

3. Schedule 3 - Related Rights: List of related intellectual property rights, such as designs or copyright works

4. Appendix A - Patent Documentation: Copies of patent applications, grants, or other relevant patent office documentation

5. Appendix B - Technical Documentation: Technical drawings, specifications, and other supporting documentation

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

Biotechnology

Manufacturing

Research and Development

Pharmaceuticals

Engineering

Software Development

Medical Devices

Clean Technology

Electronics

Automotive

Aerospace

Chemical Industry

Healthcare

Relevant Teams

Legal

Research and Development

Intellectual Property

Innovation

Product Development

Engineering

Executive Leadership

Technology Transfer

Corporate Development

Patent Administration

Relevant Roles

Patent Attorney

Intellectual Property Lawyer

Research Scientist

Chief Technology Officer

Innovation Manager

R&D Director

Legal Counsel

Inventor

Product Development Manager

Chief Executive Officer

Technology Transfer Officer

Intellectual Property Manager

Research Director

Development Engineer

Industrial Designer

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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