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IP Assignment Agreement
IP Assignment Agreement is a written agreement between two parties in which a property owner (known as assignor) transfers the complete ownership in a subject matter to another party (known as assignee).
All subject matters of the intellectual property rights, such as music, design, artwork, photograph, video, sound, etc. can be assigned by the owner of such material.
The terms of the transfer have to be clearly captured in the agreement to avoid any ambiguity.
Contents of IP Assignment Agreement
A well drafted IP Assignment Agreement contains the following:-
- Details about the subject matter being transferred
- Mode of payment
- Representation and warranty
- Limitation of liability
- Grounds of termination
- Other legal clauses
Laws governing IP Assignment Agreements in India
The different laws which govern various aspects of IP Assignment Agreements in India are as follows:
- The Indian Contract Act, 1872
- Copyright Act, 1957
- Trade Marks Act, 1999
- Design Act, 2000
- Patents Act, 1970
- Competition Act, 2002
- Stamp Duty Act (State specific)
- Senior Expert Lawyers: We will get your document drafted/reviewed by Expert Senior lawyers, skilled in Intellectual Property Laws. You can track the progress of your document on our platform at all times.
- 4.5 Customer Score: Clients are delighted with our service! They have consistently rated us high because of our focus on delivering quality output and providing regular updates.
- Responsible Delivery: Our team of experienced business advisors are just a phone call away. Our team will ensure that your interaction with the expert lawyer is smooth and seamless and the document draft is delivered to you within the committed timeline.
Our standard deliverables for every document drafting includes:
- 60 Minutes of Talk-Time with the Lawyer for drafting/reviewing the Agreement
- First draft of the documents will be delivered to you within a maximum of 2 working days
- Post-delivery of the first draft – Iterations in the master Document to incorporate your suggestions/changes
Frequently Asked Question
Waht is the difference between licensing and assignment?
The primary difference between the two is that a License allows the Licensor to maintain their rights and interest in their IP, whereas an Assignment transfers all of the Assignors rights to their IP and assigns it to the Assignee.
Would I retain any right in the property after assigning the same?
No, under Assignment, you will trasnfer all your rights in the subject matter in favour of the assignee.
I want to earn royalty payments through my intellectual property. Should I execute this Agreement?
No. In that case, you should execute Licensing Agreement.
Does this Agreement require to be stamped?
The document has to be stamped according to relevant Stamp Duty Act (which is state specific).
Can I revoke the transfer afterwards?
No. You cannot revoke the transfer unless you include a provision to that effect in the IP Assignment Agreement.
What our users have to say
Efficient and Affordable.
Sambhav Sharma, Chandigarh
I am happy with the simplicity and price. Its very affordable and convenient. This is not an everyday agreement hence not easy to find someone locally to help you with it. Legalkart nailed it; Kudos team.
preety Singh, New Delhi