Patent Rights Transfer: Main Features
Hello! Today I will tell you what to do if you decide to transfer your patent rights (trademark, industrial designs or know-how). In general, nothing complicated. However, it is always nice to feel informed. Let’s go!
If you have a patented invention, of course, you can sell it and make some money: this is called the legal transfer of ownership. Such a process is regulated by law, so there won’t be any problems. But still you need some time: the patent rights transfer can last from two months.
A contract will be enough to transfer the patent rights – between you and the new owner. Please note: if you own the patent with a partner, you need to agree. The transfer agreement itself indicates:
– details of the parties;
– patent number;
– title of the invention;
– rights and obligations of the parties;
– terms of transfer of patent rights.
However, do not rush to say goodbye to your invention. In addition to completely waiving it, you can also conclude a license agreement on the assignment of a patent for temporary use or sign a franchise agreement (then the new owner will receive the rights to a patent together with the possibility of using the trademark).
Don’t forget about the nuances. In some versions of the patent rights transfer agreement, options for using the invention may not be indicated – this will complicate its further “life”. To be aware of such subtleties, contact me now – and we will solve all the issues that are important to you.