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Also known as: intellectual property assignment, invention assignment

IP Assignment

ConceptualDocumentsLegal

Definition

IP Assignment: An IP assignment agreement transfers ownership of intellectual property created by employees or contractors to the company. Without proper IP assignment, creators might retain ownership of code, designs, or inventions they develop—creating legal complications, especially during fundraising or acquisition.

Example Usage

“During due diligence, investors asked to see IP assignments from all engineers. We had to track down signatures from three contractors.”

Common Misconceptions

Employment implies IP transfer. Without explicit assignment, creators may have claims to their work.
Only for inventors and engineers. Designers, writers, and anyone creating company IP need assignments.
One-time signature is enough. New IP might require updates; maintain clear records of what's assigned.

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