IP Assignment Agreement (Startups-UK)

Description

Key Features of the Agreement

1. Parties Involved:
   • The Assignor: The person who agrees to transfer their rights in the intellectual property.
   • The Assignee: The company that receives ownership of the intellectual property.
2. Scope of Assignment:
   • Covers all forms of IP, including patents, copyrights, trademarks, trade secrets, and design rights, whether registered or unregistered.
   • Includes future IP created during the Assignor’s engagement with the company, ensuring comprehensive coverage.
3. Consideration:
   • Specifies the compensation or benefits provided to the Assignor in exchange for the IP transfer, such as salary, equity, or monetary payment.
4. Warranties and Representations:
   • The Assignor guarantees that they have full ownership and authority to assign the IP and that the IP does not infringe on any third-party rights.
5. Confidentiality:
   • Protects sensitive company information related to the assigned IP and business operations, with ongoing obligations to maintain confidentiality even after the termination of the agreement.
6. Further Assurances:
   • Requires the Assignor to cooperate with the company in executing additional documents or taking necessary actions to enforce the IP assignment.
7. Governing Law:
   • The agreement is governed by the laws of England and Wales. If one plans to have the document governed by the laws of another jurisdiction, please ensure that it is reviewed by a lawyer in that jurisdiction.

Use Cases

• Securing ownership of software, inventions, designs, or creative works developed by employees or contractors.
• Protecting a startup’s IP portfolio for fundraising, partnerships, or mergers and acquisitions.
• Preventing disputes over ownership of IP created during employment or collaboration.

This template is essential for UK startups aiming to protect their core intellectual property assets and establish a strong legal foundation for growth and investment.