An invention assignment agreement is a contract that allows the employer certain rights to inventions created or developed by the employee during the employment period. Generally, this type of agreement requires the employee to disclose any such inventions to the employer, to assign (legally transfer) ownership rights in such inventions to the employer. It also assists the employer in getting a patent on any such inventions. Types of invention agreements might include other clauses as well like the agreement might ask the employee to list all inventions the employee created before working at the company. This is done to prevent the employee from later claiming rights to any inventions that are not on the list.
Assignment agreements often include other standard contract language too, such as a provision requiring the losing party in a dispute to pay for attorneys' fees, or an “integration” clause, stating that the written contract represents the entire agreement between the parties (that way, neither party can later claim that they had a separate side deal or handshake agreement that doesn’t appear in the written contract). This type of agreement requires the employee to disclose any such inventions to the employer, to assign ownership rights in such inventions to the employer. It also assists the employer in getting a patent on any such inventions. The waiver provision requires the employee to list all inventions he or she conceived or patented prior to beginning work with your company and waive any right to claim that the invention created during the scope of his or her employment with your company was actually created prior to the commencement of that employment.
Features of Invention Agreement:
1.Assignment provision-The assignment provision requires that an employee assign his or her inventions to you, the employer.
2.Disclosure provision-The disclosure provision requires the employee to inform the employer of the invention.
3.Waiver provision-The waiver provision requires the employee to list all inventions he or she conceived or patented prior to beginning work with your company and waive any right to claim that the invention created during the scope of his or her employment with your company was actually created prior to the commencement of that employment.
Passport photo of all parties.
PAN card of all parties.
Aadhar card of all parties.
Utility bill of Electricity or Telephone.
Valid Address Proof of all the parties.
Valid Driving Licence of all the parties.
Terms and Conditions
Terms and Conditions between the parties.
Other documents will be intimated through e-mail.
An invention is a unique or novel device, method, composition or process. The invention process is a process within an overall engineering and product development process. It may be an improvement upon a machine or product or a new process for creating an object or a result.
An invention assignment agreement is a contract that gives the employer certain rights to inventions created or conceptualized by the employee during the employment relationship. In other words, all inventions not listed are assumed to be the property of the employer.
Individuals own their inventions, except where there is an express agreement providing for assignment of ownership of inventions to an employer or where an implied agreement to assign is found because the employee was hired or assigned to invent or solve a specific problem or served the employer.
Inventions Assignment Agreements ensure that intellectual property and other proprietary rights created by employees during the course of their employment are assigned to the employer.
It is the inventor who has the right to apply for a patent for an invention. However, the right to apply for a patent can be transferred to another person – physically or legally (assignment). The applicant referred to in a patent application can, therefore, be one or more people or companies.
Some states place limits on how far an inventions assignment can go in requiring an employee to give up his or her rights. For example, in California, an invention assignment agreement is not valid as to inventions created entirely on the employee’s own time, without using any of the employer’s resources or property.