Sale of Intellectual Property Agreement
The intellectual property is one of the most precious items that a business entity has in its assets list. The intellectual property is earned and created and the creativity always remains beyond price. The intellectual property is of various kinds, but in all scenarios, it is earned and created. It is hard to imagine that a general thing can become the intellectual property without any effort. Business entities used to strive for years for turning an ordinary thing to intellectual property.
Lots of bucks are spent on branding and this is the reason why this asset is considered vital. The sale of intellectual property is never an easy decision to make for those who have worked day and night for turning an ordinary looking item into such a valuable thing. But it happens at times that organizations used to reap the profits of their effort. They consider their intellectual property as a product of their efforts and sale it out at a certain price. The sale of intellectual property agreement takes place in such scenarios as people like having a written agreement for such a transaction.
Intellectual Property Contract Template
The exchange of things of value just does not take place in ordinary style. The client exchanges dollars for the intellectual property after getting sole rights to it. The agreement shifts ownership of an intellectual asset from seller to the purchaser. It also places responsibility over the seller that it must not be violating the said rules and regulations. The owner cannot use the property itself in case of sole transfer, but in case of shared transfer it holds the right to use the same property itself as well.
Create your own Intellectual Property Contract Template by using the following sample,