How Do I Transfer or Sell Intellectual Property Rights?
The transfer or sell of IP rights generally occurs through a written assignment of ownership rights from the owner to another party. An assignment is a complete transfer of all ownership in and rights to the IP included in the assignment. A license, on the other hand, is a written agreement allowing a third party to use certain IP for a stated term and does not transfer ownership of the IP.
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Determining ownership in IP rights can be complicated and the requirements differ from one type of IP to another. Generally speaking, however, once ownership is determined, those rights are transferred or sold pursuant to an assignment between the owner and a third-party transferee or buyer. While there are some circumstances in which a conveyance of rights does not need to be in writing (typically when the rights conveyed are not exclusive), any assignment of exclusive rights must be in writing and must expressly convey or transfer ownership of the IP from the current owner to a third party. Depending on the specific IP rights at issue, the executed assignment may also need to be filed with the government, such as the United States Patent and Trademark Office (as relates to patents and trademarks) or the U.S. Copyright Office. Any such transfer should begin with proper due diligence and then proceed to the preparation of the necessary assignment by trusted IP counsel and executed by all relevant parties. For more information, see our Patent Services, Trademark Services, and Software Protection & Copyrights Services pages.
Klemchuk PLLC is a leading IP law firm based in Dallas, Texas, focusing on litigation, anti-counterfeiting, trademarks, patents, and business law. Our experienced attorneys assist clients in safeguarding innovation and expanding market share through strategic investments in intellectual property.
This article is provided for informational purposes only and does not constitute legal advice. For guidance on specific legal matters under federal, state, or local laws, please consult with our IP Lawyers.
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