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IPPA1 Sample

This patent assignment deed transfers ownership of a patent from Company Pty Ltd to Other Company Pty Ltd. Company Pty Ltd warrants that it solely owns the patent and has the right to assign it. In exchange for $500, Company Pty Ltd assigns all rights, title, and interest in the patent to Other Company Pty Ltd. The patent is for an invention described as occurring at 1 Brisbane Street Brisbane 7000.

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199 views

IPPA1 Sample

This patent assignment deed transfers ownership of a patent from Company Pty Ltd to Other Company Pty Ltd. Company Pty Ltd warrants that it solely owns the patent and has the right to assign it. In exchange for $500, Company Pty Ltd assigns all rights, title, and interest in the patent to Other Company Pty Ltd. The patent is for an invention described as occurring at 1 Brisbane Street Brisbane 7000.

Uploaded by

PV Palma
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 6

PATENT ASSIGNMENT DEED

DATED THE ___ DAY OF ______________ 20___

BETWEEN

Company Pty Ltd ACN: 111 222 333

AND

Other Company Pty Ltd ACN: 333 222 111


PATENT ASSIGNMENT DEED
MADE THE _________________ DAY OF _____________________________ 20____ .

BETWEEN: Company Pty Ltd ACN: 111 222 333 having its registered office at12
Lambert Road Besterne NSW 2000 (the Assignor);
AND: Other Company Pty Ltd ACN: 333 222 111 having its registered office at12
Lambert Road Besterne NSW 2000 (the Assignee).

RECITALS:

A. The Assignor is the applicant for grant of the Patent described in the Schedule and the
Assignor is able to assign the Patent free of all encumbrances and adverse interests.
B. The parties have agreed to enter into this deed to assign the Patent to the Assignee on
the terms and conditions set out in this deed.
THE PARTIES AGREE:
1. ASSIGNMENT
1.1 The Assignor assigns to the Assignee all the Assignors right, title and interest in the
Patent and the Assignee accepts the assignment.
2. CONSIDERATION
2.1 In consideration for this assignment, the Assignee is paying Five Hundred Dollars
($500) exclusive of GST to the Assignor simultaneously with the exchange of signed
counterparts of this Deed, the receipt of which is hereby acknowledged by the
Assignor.
2.2 Where this assignment constitutes a supply for the purposes of the Goods and
Services Tax legislation in Australia, the Assignor will provide a tax invoice to the
Assignee for the consideration plus GST and the Assignee will pay the consideration
and the GST.
3. ASSIGNORS WARRANTIES & INDEMNITY
3.1 The Assignor warrants that:
(a) the Assignor is the sole and exclusive owner of the Patent and this Deed is a
valid assignment of all the Assignors right, title and interest in the Patent and
Invention;
(b) the Assignor was entitled to make the Patent application and at the time the
Invention was not part of prior art in its field;
(c) the Patent application was made in the prescribed form and manner;

Initial: ___________ Page 1 of 5


(d) the Patent is current as at the date of this Deed, full details of which are set out
in the Schedule;
(e) there is no current assignment, charge, mortgage or encumbrance which in any
way secures the Patent or the Invention ;
(f) the Assignor has not licensed or granted any other right to use the Patent ;
(g) the Assignors execution of this Deed will not cause the Assignor to be in
breach of any agreement;
(h) use by the Assignee or any sub-licensee of the Assignee will not infringe the
intellectual property rights of any third party nor will it give rise to any royalty
or liability to a third party.
3.2 The Assignor indemnifies and holds the Assignee harmless against any claim,
demand, action, loss, costs or other liability arising directly or indirectly out of or in
connection with any breach by the Assignor of a provision set out in this Clause 3.
4. GENERAL UNDERTAKINGS
4.1 Each party agrees to make, do and execute all such other documents, acts, matters or
things whatever which may be necessary or desirable to give full effect to the
provisions of this Deed and in the event of default, the Assignor appoints the
Assignee as its attorney for that purpose.
4.2 The Assignor will deliver any certificate of title, drawings, papers, plans, reports,
laboratory notebooks or technical methodologies relating to the rights assigned under
Clause 1.1.
4.3 The Assignee is responsible for paying any government tax, duty or impost arising out
of or incidental to this Deed including any fee to record the assignment.
4.4 The Assignor will provide the Assignee with whatever financial information is
required to satisfy any stamp duty authority relating to calculation of duty, if any, in
respect of this Deed.
5. GENERAL PROVISIONS
5.1 (Law and Jurisdiction) This Deed shall be governed by and construed in accordance
with the laws of New South Wales and any claim made by one party against the other
in any way arising out of this Deed will be heard in New South Wales and the parties
submit to the jurisdiction of those Courts.
5.2 (Entire agreement) The terms of this Deed constitute the entire terms of this Deed
and all understandings, prior representations, arrangements or commitments that are
not contained in this Deed have no effect whatsoever and do not bind the parties.

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5.3 (Invalidity) If any provision of this Deed is invalid under any law the provision will
be limited, narrowed, construed or altered as necessary to render it valid, but only to
the extent necessary to achieve such validity. If necessary the invalid provision will
be deleted from the Deed and the remaining provisions will remain in full force and
effect.
5.4 (Amendment) A variation to this Deed (Amendment) will not be effective unless
in writing and signed by or on behalf of both the Assignor and the Assignee.
6. INTERPRETATION
6.1 Definitions
Deed means this assignment deed including the Schedule, any Amendment and any
Attachment.
Invention means the invention that is the subject of the Patent.

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SCHEDULE
PATENT (Recital A):
1 Brisbane Street Brisbane 7000

Initial: ___________ Page 4 of 5


EXECUTED as an Agreement by the parties on the day and year first mentioned.

SIGNED BY )
Company Pty Ltd )
ACN 111 222 333 pursuant to )
Section 127 of the Corporations Act 2001
) Director
(Cth) in the presence of:
Print Name:

Signature of Witness
Print Name:
Director/Secretary
Print Name:

SIGNED BY )
Other Company Pty Ltd )
ACN 333 222 111 )
pursuant to
) Director
Section 127 of the Corporations Act 2001
Print Name:
(Cth) in the presence of:

Signature of Witness
Print Name: Director/Secretary
Print Name:

Initial: ___________ Page 5 of 5

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