What This Invention Assignment Agreement Template Covers

This invention assignment agreement template serves as a formal contract between employers and employees regarding the ownership of inventions created during employment. It includes essential clauses like the Assignment of Inventions, which clearly outlines what inventions are covered, and the Obligations of Employee, detailing the responsibilities of the employee regarding the confidentiality and reporting of inventions.

When to Use an Employee Invention Agreement

This template is vital for employers in technology, engineering, and research sectors where intellectual property plays a crucial role. Use this invention assignment agreement template when onboarding new employees who will be involved in creating proprietary technologies or innovations. Additionally, it is beneficial when revising existing employment contracts to ensure clear ownership rights over new inventions.

What's Included in This Invention Assignment Agreement Template

• Parties: Clearly identifies the employer and employee involved in the agreement.
• Definitions: Provides definitions of key terms used throughout the agreement, ensuring clarity.
• Assignment of Inventions: Specifies the inventions covered under the agreement and the rights assigned to the employer.
• Obligations of Employee: Outlines the responsibilities of the employee, including the duty to disclose inventions.
• Confidentiality: Ensures that any proprietary information related to inventions remains confidential.
• General Provisions: Covers miscellaneous clauses that govern the agreement's execution and enforceability.

Key Invention Ownership Agreement Provisions

• Assignment of Inventions Form: This provision is crucial as it legally transfers the rights of any inventions created during employment to the employer.
• Confidentiality Clause: Protects sensitive information from being disclosed, which is vital in competitive industries.
• Governing Law: Specifies which jurisdiction's laws govern the agreement, ensuring legal clarity.
• Effective Date: Establishes when the agreement takes effect, which is important for both parties.

Disclaimer: This template is for informational purposes only and does not constitute legal advice.