An IP assignment, short for Intellectual Property assignment, is a legal agreement where one party (the assignor) transfers their ownership rights and interests in intellectual property, such as patents, trademarks, copyrights, or trade secrets, to another party (the assignee). This transfer ensures that the assignee becomes the rightful owner of the intellectual property and gains the associated rights and benefits, while the assignor relinquishes their ownership and any future claims to the intellectual property.
- Intellectual Property
When it comes to copyrights, the owner of a protected work is typically the author. Not a big surprise. But there are circumstances in which the author of the protected work is not the owner. One circumstance is when the work is considered a “work made for hire.”