Intellectual Property Deed of Assignment: third party contractor
Deed of assignment of intellectual property rights by a third party contractor.
Do intellectual property rights created by a third party belong to the client company?
Whether intellectual property rights created by a third party for a client company during the course of providing development or other services for the company will depend on the terms of the contract between them. In the absence of an express clauses which assigns the ownership of intellectual property, any rights to intellectual property in the work created or developed may not have vested in the company but will be owned by the third party.
In these circumstances, an investor should require that, on the closing of the investment, the founder procures that the third party executes a deed of assignment of the relevant intellectual property in favour of the company.
About this document
This document is a deed of assignment of intellectual property rights by a third party to the company.
- definitions of developed intellectual property
- assignment by the third party
- warranties from the third party
- further assurance
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