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Agreement Between Co-Owners Non-Transfer Of Patent Rights
AGREEMENT BETWEEN CO-OWNERS NON-TRANSFER OF PATENT RIGHTS
This agreement was entered on [Date of agreement] between [Name of first co-owner], hereinafter referred to as first co-owner, and [Name of second co-owner], hereinafter referred to as second co-owner.
RECITALS
First co-owner owned all right, title, and interest in certain inventions on which he/she has made application on [Date of application] for letters patent for improvements in [Subject of Invention]. The serial number of that application is [Serial number of application]. Then, on [Date of assignment], first co-owner assigned [Percentage assigned] % of his/her right, title, and interest in that invention to second co-owner. Since it is the desire of both parties that the entire right, title, and interest in the invention be kept together, the parties enter into the following agreement.
AGREEMENT
Both parties agree that neither will sell, assign, or transfer his/her interest in the invention or in any improvements or additions relating thereto for a term of [Term in years] years. Both parties also agree that neither will assign or grant any right, privilege, or interest in the invention to anyone without first obtaining the written consent of the other party.
This agreement was executed at [location of agreement] on [date of agreement].
Signature of First Co-owner Date
Signature of Second Co-owner Date