IP rights sale agreement: in invention or process: for cash and shares

This is an agreement for the sale of rights in an invention or improvement, or in any software or technical product. It may be an innovative new product for sale or a device to improve an existing product. The product could be a software game or designs for a railway bridge or any other invention. We assume the buyer requires full control so that he can brand and market it as his own. Option for seller to licence supporting intellectual property, like trade marks or patents. Payment in cash and shares. Other options too.

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About this intellectual property sale agreement

This is a heavyweight agreement for sale of rights to an invention or technological innovation. You may be an individual or represent a company. Your work may be applicable in one industry or many. It could be anything. You want to sell all rights to a major manufacturer. Sale limited to a particular market or industry. You probably intend to sell rights for use in other industries or to manufacture it for your own use in your industry. We have named the subject of this product “Freewheeler”. You can rename it or give it an abstract legal name like “Licensed Product”.

Examples of use:

Example 1: Library of legal documents

Example 2: System for simple closure of paint cans

Example 3: Soft refinement of bicycle computer to calculate calories burned

Example 4: New type of domestic door catch

This agreement covers whatever intellectual property rights you decide to sell. The description and specification is up you to agree with the buyer. It provides for a single and final payment. Once sold, the buyer can do what he likes with your invention or computer game, subject to the restrictions of the sale.

When you sell, you are parting with certain rights for ever. But that does not means that you cannot retain some or most of the total “basket” of rights. We assume that this sale will be of rights in a particular industry sector or field. That leaves you with many opportunities to sell other rights in different sectors or countries.

This agreement provides the complete legal framework for what may appear to be a complicated deal. The Net Lawman modular structure in plain English takes you smoothly through the detail of a document of nearly 5,000 words.

Key features

  • Professionally drawn, tough law
  • Easy to edit (as always with Net Lawman documents)
  • Thorough coverage of legal areas
  • Practical, alternative business provisions
  • No requirement for you to be your own lawyer

Alternatives to this sale of intellectual property agreement

Net Lawman offers around 20 licence agreements and assignments relating to intellectual property in addition to those in website terms and conditions.

You can find the full selection at:

Contents of this intellectual property sale agreement

Here is a list of the major subjects covered:

  • Definitions and interpretation
  • Warranties and understandings
  • The assignment of Freewheeler
  • Licence of patents and trade marks
  • New intellectual [property
  • Third party infringement
  • Continuing research, improvement and product updates
  • Confidentiality
  • Disclaimer
  • Other matters relating to enforcement and other legal issues

Over 1,200 words of helpful drafting notes.

Draftsman

This document was written by a solicitor for Net Lawman. It complies with current Indian law.

IN-IPipp31 - IP rights sale agreement: in invention or process: for cash and shares

 
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