When a person successfully turns his idea into physical matter, it becomes an invention, and associated with this is a requirement to have patent protection. This aims to exclude other people to make and use the said product at all times.
The main purpose of having Patent Agreement Forms will date back from decades ago where people were encouraged to make new inventions and to assure them that no one will own their products aside from themselves. The form also states that the invention will be of the inventor and no other individual is allowed to sell and import the product.
Patent License Agreement Form
Patent Assignment Agreement Form
Patent Agreement Form Example
Patent Non-Disclosure Agreement Form
General Types
- Patent License Agreement Form – This is a contract for the licensor or the owner to agree in giving the licensee the right to make, use, import, and sell his invention in exchange for a huge amount of payment.
- Patent Assignment Agreement Form – This is a documented agreement where the assignor or the owner will warrant the assignee to be the new owner of the patented invention.
- Patent Non-disclosure / Confidentiality Agreement Form – This is a contract in between the owner and a participating party that allows the owner to share his ideas and granting protection for it. These ideas should not be shared and be kept confidential from another party that’s outside the agreement, except under terms described in the contract.
- Patent Sale Agreement Form – This form specifies the conditions associated with selling the patent to an individual.
- Patent Purchase Agreement Form – This form is used for a seller who owns a patent and a purchaser who wants to fully own the rights of the invention.
Significance of Having a Patent Agreement Form
One main significance is that the form will serve as a framework for the relationship between the owner and the other party. It sets the ground rules of the patent owner for his invention’s protection.
If you are an employer, you may also view our samples of Non Compete Agreement Forms to ensure that your employees don’t seek employment with rival businesses lest they risk the disclosure of certain trade secrets at your expense.
Free Patent Sale Agreement Form
Patent Confidentiality Agreement Form
Patent Purchase Agreement Form
Patent Agreement Simple Form
Essential Parts
Though there are many types of Patent Agreement Forms, all should have these vital parts:
- The Recitals. This is where both parties are introduced. The details include the legal names and their addresses.
- Definitions. This part ensures that both parties understand the same intent when using a word or phrase in the agreement.
- Non-exclusive or Exclusive. If the owner states an exclusivity over the rights, he should explain what the associated provisions are.
- The Field of Use. This states the area where the owner allows the other party to use the invention. A good example is when a licensee has a professional background in the field of medicine, the owner would state that the licensee is only allowed to use the invention for “medical purposes only.”
- Licensed Patent. This is the crux of the agreement in which the rights and privileges are granted to the licensee.
- Financials. This is where the issue fee, the royalties, the annual maintenance payment, and the patent expenses will be specified.
- Termination. This area outlines the possible reasons for the termination of the agreement.
A Non-Disclosure Agreement Form is similar to Confidentiality Agreement Forms. These documents focus on legal matters that should not be shared with entities outside the contract.
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