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Assignment Of Part Interest -By Sole Inventor
ASSIGNMENT OF PART INTEREST -BY SOLE INVENTOR
This assignment was made on [Date Assigned], by [Name and Address of Inventor], hereinafter referred to as inventor, to [Name and Address of Corporation of assignee], a corporation organized under the laws of the State of [State of assignee], hereinafter referred to as assignee.
RECITALS
Inventor has invented certain new improvements relating to [Subject of the Invention]. Inventor is about to apply for a letters patent for this invention, a description of which is found in the attached specification. Assignee desires to acquire an undivided interest in the right, title, and interest in this application, in the invention and any improvements on it, and in any letters patent that may be granted thereon. In consideration of these recitals and the promises and duties set forth below, the parties agree as follows:
SECTION ONE: ASSIGNMENT
For consideration in the amount of $ [Amount paid for assignment] plus other valuable consideration, Inventor assigns to Assignee an undivided interest in the entire right, title, and interest in the above application and the invention and any improvements thereon as well as in any letters patent that may be granted thereon.
SECTION TWO: COOPERATION
Inventor must cooperate with Assignee so that assignee may fully enjoy the interest assigned herein. This duty includes the duty to promptly execute any necessary papers and to cooperate in any proceedings relating to the patent application, in priority contests, interferences and the like.
SECTION THREE: PARTIES BOUND
The Assignee and [his or her] heirs, legal representatives and assigns will have the full benefit of the terms, covenants, and provisions of this assignment and they will be binding on the Inventor and [his or her] heirs, legal representatives, and assigns.
SECTION FOUR: INVENTORS WARRANTY
Inventor warrants that [he or she] has not entered any assignment, contract, or understanding which conflicts with this assignment.
This assignment was executed on [Date Executed] at [Location Executed].
Signature of Inventor Date
Signature of Assignee Date