IP Rights Sale Agreement: in invention or process: for cash and shares
Template: IP Rights Sale Agreement: in invention or process: for cash and shares
Introduction to IP rights sales templates
"This is a heavyweight agreement for sale of rights to an innovation, invention or piece of technology. The subject of the sale could be anything, tangible or intangible. It is likely to have more than one possible use in different industries or markets, which the creator or owner may want to exploit separately, and therefore the rights sold can therefore be limited to specific purposes.
For example, it might be:
- a library of legal documents
- a system for extracting liquids from inaccessible places
- software that adds functionality to a piece of hardware
The sale is full – the seller parts with certain rights forever. But that does not means that he or she cannot retain some or most of the total “basket” of rights, for use in other circumstances. We assume that this sale will be of rights in a particular industry sector or field. That leaves many opportunities to sell or use other rights in different sectors or countries.
This agreement covers whatever intellectual property rights you decide to sell and buy. The description and specification of these is up you.
We provide for a single and final payment in cash and shares in the acquiring company.
Once sold, the buyer can do what he or she likes with the IP, subject to the restrictions you have specified."
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