TEL:86-755-82143422

Home > Trademark (Intellectual Property) > How to Transfer Ownership of Intellectual Property

How to Transfer Ownership of Intellectual Property

Updated:2018-10-15 11:59:53    Source:www.tannet-group.comViews:46

How to transfer ownership of intellectual property? Business startups usually have relatively few tangible tangible assets. The primary assets are their ideas. Intellectual property (IP) rights on those ideas should help secure financing. Increased importance of intangibles increases demand for property rights to those assets.

All forms of intellectual property, including copyrights, trademarks and patents can be transferred in two ways: the property can be temporarily transferred under a license; or the property can be permanently transferred by way of an assignment.

I. Licensing
The key to licensing is the principle of reversion which refers to the fact that you will get the rights back once the license terminates. Typically the reversion occurs upon one of several factors:

1. The agreement expires because of a fixed time period;
2. The company that licensed the work or invention (the licensee) stops selling the property;
3. The licensee failed to commercialize your work (they never sold it);
4. The licensee breached the agreement.

If the license agreement does not provide for a reversion in the event of termination, you should have an attorney review it to be sure that you are licensing and not assigning your work.

II. Assignments
Assignments are a permanent transfer of the rights. In other words, you’re selling the rights to someone else and you will not be getting them back. Assignments are typically made under employment or contractor agreements, when companies acquire the assets of other companies, or when intellectual property is used a security such as when a movie studio secures loan by assigning movie rights in return for a loan.

III. Difference between Licensing and Assignments
Even though they have different legal meanings, the terms assignment and license are sometimes mistakenly used interchangeably. Assignments are unconditional transfers of the rights in question, without limitations on how long the transfer lasts or the conditions under which the rights may be used. By contrast, licenses give permission for a party to use a copyright, patent, or trademark under certain specified conditions for a defined period of time.

A license is an agreement in which you let someone else commercially use or develop your trademark, copyright or patent for a period of time. In return, you receive money, either a one-time payment or continuing payments called royalties. However, the assignment is a permanent transfer. You say goodbye to ownership and unless you were clearly defrauded, you will never re-acquire your rights, unless you can afford to buy them back.

Tannet has some resources on registered trademarks for sale, both Chinese trademark and overseas trademark. If you want to purchase a trademark instead of registering one through the normal registration process considering the long time involved, just let us know. By the way, we are also focusing on patent transfer currently, should you have such resource, call us or email us at the contact information listed below.

Contact Us
If you have further inquiries, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s website www.tannet-group.net, or calling Shenzhen hotline at 86-755-82143422 or Hong Kong hotline at 852-27826888, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020,Dongmen Rd South, Luohu, Shenzhen, China.

Previous:Korea Trademark Assignment     Next:Cambodia Trademark Law