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Assignment Of Patent Rights Agreement Template for New Zealand

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Key Requirements PROMPT example:

Assignment Of Patent Rights Agreement

"I need an Assignment of Patent Rights Agreement to transfer ownership of our pharmaceutical manufacturing patent (NZ Patent No. 123456) from TechPharm Ltd to BioScience Solutions Ltd, with the transfer to be completed by March 2025 for a one-time payment of NZD 500,000."

Document background
The Assignment Of Patent Rights Agreement is a crucial legal instrument used when transferring ownership of patent rights in New Zealand. This document is typically employed during corporate acquisitions, technology transfers, or strategic restructuring of intellectual property portfolios. It ensures compliance with the Patents Act 2013 and other relevant New Zealand legislation, while providing a clear framework for the complete transfer of patent rights from the Assignor to the Assignee. The agreement is essential when companies or individuals wish to sell their patent rights, during merger and acquisition activities, or when reorganizing intellectual property holdings. It includes detailed information about the patents being transferred, warranties of ownership and validity, consideration for the transfer, and provisions for registration with the Intellectual Property Office of New Zealand.
Suggested Sections

1. Parties: Identifies and provides full details of the Assignor and Assignee, including their legal status and registered addresses

2. Background: Establishes the context of the agreement, including the Assignor's ownership of the patent rights and the intention to transfer these rights to the Assignee

3. Definitions: Defines key terms used throughout the agreement, including 'Patent Rights', 'Effective Date', 'Intellectual Property Rights', and other relevant terms

4. Assignment: Core section detailing the transfer of all rights, title, and interest in the patent rights from Assignor to Assignee

5. Consideration: Specifies the payment or other consideration for the assignment of the patent rights

6. Assignor's Warranties: Warranties regarding ownership, right to assign, validity of patents, and absence of encumbrances or third-party claims

7. Further Assurance: Obligation to execute additional documents and take necessary steps to perfect the assignment

8. Registration: Provisions regarding the registration of the assignment with the Intellectual Property Office of New Zealand

9. Confidentiality: Obligations regarding confidential information related to the patent rights

10. Governing Law and Jurisdiction: Specifies New Zealand law as governing law and jurisdiction for disputes

Optional Sections

1. Surviving Rights: Used when certain patent rights or licenses need to be retained by the Assignor

2. Foreign Patent Rights: Include when the patent has international registrations or pending applications in other jurisdictions

3. Technology Transfer: Required when technical knowledge or know-how needs to be transferred along with the patent rights

4. Ongoing Technical Assistance: Include when the Assignor agrees to provide continued technical support or consultation

5. Tax Provisions: Include specific tax-related provisions when the assignment has significant tax implications

6. Competition Law Compliance: Include when the assignment might raise competition law concerns

7. Improvements: Used when future improvements to the patented technology need to be addressed

Suggested Schedules

1. Schedule 1 - Patent Rights: Detailed description of the patents being assigned, including patent numbers, jurisdictions, and status

2. Schedule 2 - Payment Terms: Detailed payment structure if the consideration involves installments or milestone payments

3. Schedule 3 - Technical Documentation: List of all technical documents, drawings, and specifications related to the patent

4. Appendix A - Power of Attorney: Form of power of attorney for registration purposes

5. Appendix B - Assignment Recording Form: Standard form required by the Intellectual Property Office of New Zealand for recording the assignment

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Relevant Industries

Technology

Pharmaceuticals

Biotechnology

Manufacturing

Engineering

Research and Development

Chemical Industry

Medical Devices

Software Development

Telecommunications

Clean Energy

Agricultural Technology

Relevant Teams

Legal

Intellectual Property

Research and Development

Executive Leadership

Technology Transfer

Business Development

Corporate Strategy

Innovation

Patent Administration

Scientific Affairs

Relevant Roles

Intellectual Property Lawyer

Patent Attorney

Legal Counsel

Chief Technology Officer

Research and Development Director

Innovation Manager

Chief Executive Officer

Chief Legal Officer

Technology Transfer Manager

Intellectual Property Manager

Corporate Counsel

Business Development Director

Chief Scientific Officer

Patent Administrator

Licensing Manager

Industries





Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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