Inventors usually file a patent application to protect their rights in an invention. In some instances, more than one person is considered the inventor and both parties co-own the patent. This Assignment of Interest in Patent is for use by one co-owner to transfer his interests to the other co-owner. This assignment sets out the specific terms of the assignment including a brief description of the patented invention and the consideration one co-owner will pay to the other for full ownership of the patent. It is extremely important that this business transaction be set out in writing and recorded if necessary. A written Assignment of Interest in Patent will prove invaluable in the event of misunderstandings or disagreements about the patent’s ownership.

This Assignment of Interest in Patent between Co-Owners contains the following provisions:

• Parties: Sets out the identities and business addresses of the co-owners;
• Patent: A brief description of the invention and its patent number;
• Assignment: Assignor assigns his one-half interest in the patent to the assignee;
• Payment: The amount paid by assignee for full ownership of the patent and how payment will be made;
• Signatures: Both assignor and assignee must sign the agreement in the presence of witnesses.

Protect your rights and your property by using our professionally-prepared up-to-date forms.

This attorney-prepared packet contains:

1. General Instructions
2. Assignment of Interest in Patent (Co-Owners)

State Law Compliance: This form complies with the laws of all states