How to make an Intellectual Property Sale Agreement? Download our formal IP Sale Agreement template now if you are holder of intellectual property and want to sell it to another party.
Relevant definitions in this IP Sale Agreement are:
“Technology” means any technology owned by Seller and sold to the Buyer, related to [PRODUCTS/SERVICES] including, without limitation, all Intellectual property Rights and Technical Information.
“Intellectual Property Rights” means all Patents, Trade Marks, Copyrights, System Designs, and other intellectual property rights whether registered or not, owned by Seller and sold to the Buyer, relating to the Intellectual Property described in Schedule A.
“Documents” includes all information fixed in any tangible medium of expression in whatever form or format, and copies thereof.
“Technical Information” means all know-how and related technical knowledge of the Seller, relating to the Intellectual Property described in Schedule A including, without limitation:
(a) All trade secrets and other proprietary know-how, public information, non-proprietary know- how and invention disclosures;
(b) Any information of a technical or business nature regardless of its form;
(c) All documented research, developmental, demonstration or engineering work;
(d) All information that can be or is used to define a design or process or procedure, produce, support or operate material and equipment;
(e) All other drawings, blueprints, patterns, plans, flow charts, equipment, parts lists, software and procedures, specifications, formulas, designs, technical data, descriptions, related instructions, manuals, records and procedures.
This gives you a good impression what can be sold with this IP Sale Agreement! This template covers the most important subjects and will help you to structure and communicate in a professional way with the buying party of your intellectual property works. Important articles are:
- SALE AND ASSIGNMENT OF INTELLECTUAL PROPERTY
- REPRESENTATIONS AND WARRANTIES
- ATTORNEY'S FEES
- ENTIRE AGREEMENT
- NO WAIVER
- AGREEMENT TO PERFORM NECESSARY ACTS
- REPRESENTATION ON AUTHORITY OF PARTIES/SIGNATORIES
- GOVERNING LAW
This formal IP Sale Agreement template is crafted and screened by Intellectual Property legal professionals.
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