Transferring intellectual property rights can be a confusing process. There is a lot that you have to take into consideration when doing so. Whether you are doing it for personal reasons or for your business, making sure that you are following all relevant guidelines is highly important. In this article, we will discuss seven things that you should be keeping in mind when it comes to transferring intellectual property rights.

1. Make Sure That You Prove Ownership

Before you will be able to transfer any intellectual property rights, you must first prove that you have full ownership of the intellectual property. Without this, there is no way you will be able to transfer that ownership to anyone else. Making sure that you warrant full ownership can be done through a number of methods. There are a number of specialists who will be able to help you with this issue. They can let you know what the requirements are for proving ownership and what you will have to provide as proof of ownership.

Theoretically, it should seem obvious that you can not transfer something that you have no ownership to. However, there may sometimes be confusion when it comes to what you own and what you do not own. For example, if you created something as an employee or as an independent contractor for someone else, you may not even own intellectual property rights. If you are receiving the transfer of intellectual property from someone else, it is highly important that you verify that the one transferring it has full ownership before you make any payments or sign any documents.

2. Decide Whether It Will Be a Temporary License

There is such a thing as transferring intellectual property rights on a time-limited basis. The license can expire, after which the person you are giving the property rights to will lose ownership of the intellectual property. A license does not necessarily have to have an expiration date. However, if it does not have an expiration date, the specialist you are using to craft the agreement will have to specify that it is a license so that it does not get confused with a permanent agreement. There are times when it is most useful for your business needs that the transfer of intellectual property rights expires after a specific period of time.

3. Decide Whether It Will Be a Permanent Assignment

When you do not wish the transfer of rights to expire after a set amount of time, it is important to make sure that you are writing a permanent assignment of intellectual rights. If you do that, then the other person will have full rights to the intellectual property. They will not have to give back the rights at any time. Again, whether you choose to use a temporary license or a permanent assignment will depend on your needs and the needs of your business. Regardless of which one you choose, a specialist in intellectual property rights will be able to help you draft an agreement.

4. Be Specific In What the Agreement and Transfer Are About

The agreement will cover certain things, such as the transfer of the rights themselves. However, there will be times when you will want to specify other terms of the agreement, such as whether it covers the right to distribute the intellectual property. Another thing that may not be covered by the original agreement is whether the receiver has the right to produce similar content. This can all be specified in the agreement. Just make sure that the agreement is comprehensive and go over it a few times to make sure that you haven't forgotten anything.

5. Make Sure All Details Are Covered

It is important that you reread the agreement to make sure that it covers all of the important details in the transfer. This starts with the personal details of the person transferring the rights and the person receiving the rights. It continues with the details of the property that is being transferred. Then, you have to make sure that all rights being transferred are written out. Continue with any liabilities and warranties that may be covered in the agreement. Consulting a specialist is the best way to make sure that you are not leaving any important details out of the agreement.

6. It Should Be A Written Agreement

You do not want to rely on an oral agreement when it comes to transferring property rights. The transfer of property rights is something that is complex and which involves many laws. Using an oral agreement to transfer property rights is not the best idea if you want a strong agreement.

You need to make sure that it is written if you want to be able to enforce the agreement. A written assignment is enforceable in all of the details that are included. On the other hand, an oral agreement will land you in trouble if you ever want to enforce the agreement.

7. Consult With a Specialist

Keep in mind that the transfer of intellectual property rights is a complex issue. It is not something that can be arranged by people who do not have any in-depth knowledge of the laws and issues that are involved. It is highly important that you consult with a specialist who will be able to help you draft the agreement. A specialist will also help you figure out which rights you want to be transferred and what the details of the agreement should be. Not consulting in a specialist can result in you drafting and signing an agreement that may have terms that are not in your best interests. It is best that both parties consult with a specialist in intellectual property transfer before you proceed with any agreement. Boss Lawyers is here to help you with your intellectual property transfer needs. Give us a call and we will be more than willing to give you an initial consultation to get you started.