Who is this Deed of Assignment of Intellectual Property for?
This Deed of Assignment of Intellectual Property is for any business that doesn’t clearly own the intellectual property it uses, or needs to transfer intellectual property to another person or business. The three main situations in which an assignment of Intellectual Property is required are:
- where IP is created or developed by a company founder, employee or contractor, without a clear written agreement stating the ownership of any intellectual property created belongs to the business,
- as part of a business sale and purchase, to transfer ownership of all intellectual property to the new owner of the business, or
- to transfer specific intellectual property from one person or business to another
What does a Deed of Assignment of Intellectual Property cover?
This Assignment of Intellectual Property is simple, easy to understand, without legalese, and fair to both sides. It is for a simple transfer of intellectual property from one person or business to another without payment.
Why do I need a Deed of Assignment of Intellectual Property?
Every business has intellectual property, whether trademarks, designs, copyright (including copyright in software), patents, patent applications, brand names, technical data, inventions, specifications, confidential information or know-how. There is often significant value in this intellectual property, so it is vital to make sure your business legally owns it. Evidence of legal ownership (created by this Deed of Assignment) will enable you to protect your IP, prevent others from using it and provide comfort during a capital raising or business sale.
How long will it take to create my document?
Under 5 minutes - less time than making a coffee! During the Q&A you can save your progress to come back later, or repeat the Q&A to change an answer or produce a new version of a document.
What information do I need to complete the Q&A?
- Full name and contact email of the person or business assigning intellectual property and the person or business receiving the assignment
- New Zealand Business numbers (where a company or other business is either assigning or receiving the intellectual property). New Zealand Business Numbers can be found by searching an organisation’s name
- Details of any specific intellectual property you want to reference (eg, registration numbers)
- Date of assignment
What do I do once my Deed of Assignment of Intellectual Property is created?
The document is ready to sign as soon as you have downloaded it. Both parties must sign it to ensure it’s legally enforceable in New Zealand. If any of the assigned intellectual property is registered, such as trademarks, registered designs or patents (or patent applications), you must file a change of ownership request with the Intellectual Property Office of New Zealand.
Other helpful information:
- Check out blogs and guides: How to Protect Your Brand, Empowering Creatives: How to Protect Your Copyright, Guide to Intellectual Property
- If you would like to speak to a lawyer regarding your documents (or for any other legal queries), see our amazing network of specialist law firm partners, including our intellectual property law firm partner theloft.legal.
- You may also find these bundles or documents useful for your business: Agreement for Sale and Purchase of Business, Agreement for Sale and Purchase of Shares (All or a majority of shares)
- Check out our FAQs
- Intellectual Property Office of New Zealand has lots of helpful information and resources.
If you’re unsure whether this document is what you need, reach out to us at hello@onyourterms.co.nz – we’re happy to help!
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Disclaimer: On Your Terms was created to provide fast, easy and affordable access to legal information and documentation. We are not a law firm and do not provide legal advice. The information and documents we provide are of a general nature, designed for common situations, and may not be suitable for your needs or circumstances. If you need legal advice, we have a network of specialist law firm partners able to help you here.