Intellectual Property Transfer Agreement

An Intellectual Property Transfer Agreement is used to protect intellectual property. It contains an agreement decided on between two or more parties and all information relating to the arrangement made. It is used when allowing another person use or ownership rights of another person's intellectual property.These agreements are also called Intellectual Property Agreements.

Description

Intellectual property (IP) is not actual tangible property. It is property created by the mind including things such as literary and artistic works, symbols, images and inventions. Two categories of IPs exist: industrial property and copyright property. Industrial properties include patents, trademarks and industrial designs. Copyright properties include novels, poems, plays, musical works and photographs.

Purpose

An IP Transfer Agreement protects the rights of intellectual property when it is sold by one company to another. This agreement is designed for protecting the owner of the property and the party purchasing it.

Features

An IP Transfer agreement states details regarding the sale and rights of the IP. When IP is sold, the rights of the IP transfer from one party to another. This agreement states terms and conditions of the sale including warranty information, rights and obligations of both parties and price.

References

• Onecle: Intellectual Property Agreement
• Real Deal Docs: Intellectual Property Agreement
• World Intellectual Property Organization: What is Intellectual Property?