Patent Assignment, Patent Licensing, and Patent Royalty Agreements Throughout Virginia & D.C.The exclusive rights of a Patent owner may be permanently transferred through an assignment agreement. Alternatively, these rights may be partially or temporarily transferred through a licensing agreement.
Patent Assignments must be recorded in the United States Patent and Trademark Office. As specified on the USPTO website, if an assignment, grant, or conveyance of a patent or an interest in a patent (or an application for patent) is not recorded in the Office within 3 months from its date, it is void against a subsequent purchaser for a valuable consideration without notice, unless it is recorded prior to the subsequent purchase. Consequently, it is best practice to file an assignment or otherwise disposition of a Patent within the first 30 days after such disposition in order allow for adequate time to amend within the 90 day allotment. Charges are typically around $25 and may be filed electronically through the Electronic Patent Assignment System.
It is extremely important to consult an attorney regarding the formation and content of either of these agreements in order to understand your rights and to help insure you are receiving adequate compensation for your Patent in the form of a lump sum and/or royalty payment structure.