Free Sale of Partial Interest in Invention

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This Sale of Partial Interest in Invention is between a company and an inventor who agrees to sell partial interest in any inventions discovered while in the company's employ as a consultant. This agreement sets out the terms of the sale including the consulting term and the inventor's duties and responsibilities. It also spells out detailed definitions regarding proprietary information. It is vital to both parties that this business transaction be clearly set forth in writing. A written Sale of Partial Interest in an Invention will prove invaluable in the event there are disagreements or misunderstandings between the company and the inventor. This Sale of Partial Interest in Invention contains the following provisions: Parties: The names of the inventor and the company engaging the inventor as a consultant; Consulting Period: The term in which the inventor agrees to render consultation services; Duties/Responsibilities: A detailed list of inventor's duties and responsibilities are set out via an exhibit to this agreement; Inventions and Ideas: Detailed definition of "invention ideas" and the set percentage of any invention which will be transferred and assigned to the company; Assignment: Inventor agrees that he or she will not assign any rights under this agreement; Independent Contractor: Inventor is an independent contractor and is not authorized to act on behalf of the company; Signatures: Both inventor and company must sign this agreement. Protect yourself, your rights and your company by purchasing this attorney-prepared form. This attorney-prepared package includes: General Information Instructions and Checklist Sale of Partial Interest in Invention State Law Compliance: This form complies with the laws of all states