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Assignment Of Application -By Joint Inventors
ASSIGNMENT OF APPLICATION BY JOINT INVENTORS
On [Date of assignment], this assignment was made by joint inventors and [Names and Addresses of the Joint Inventors], hereinafter referred to as inventors, to [Name and Address of Corporation], a corporation organized under the laws of the State of [State of Corporation], hereinafter referred to as assignee.
RECITALS
Inventors have invented a new improvement concerning [Subject of Invention]. They are about to apply for a letters patent on this invention. The invention is described and identified by the specification in an application which was executed on [Date application was executed]. Attached you will find a copy of that specification. Assignee wishes to acquire the entire right, title, and interest in the patent application, the invention and any improvements thereon, and in any patent which may be granted for the invention.
SECTION ONE: ASSIGNMENT
Inventors hereby assign their entire right, title, and interest in the patent application, the invention and any improvements thereon, and in any letters patent granted for the invention to assignee for consideration in the amount of $ [Amount paid for invention].
SECTION TWO: COOPERATION
Inventors jointly and severally agree to cooperate with assignee so that assignee may fully enjoy the assigned rights. Inventors thus have a duty to cooperate in any proceedings relating to the patent application, in priority contests, interferences and the like.
SECTION THREE: PARTIES BOUND
The terms, covenants, and conditions of this assignment are binding on the inventors, their heirs, legal representatives, and assigns. Similarly, the assignee, assignees successors, assigns, and other legal representatives may have the benefit of the terms, covenants and conditions of this assignment.
SECTION FOUR: INVENTORS WARRANTY
Inventors jointly and severally warrant that they have not entered into any other assignment, contract, or understanding which conflicts with this assignment.
This assignment was executed at [Location of Execution] on [Date of Execution].
Signature of First Joint Inventor Date
Signature of Second Joint Inventor Date
Signature of Assignee Date