ASSIGNMENT OF INDUSTRIAL PROPERTY RIGHTS
Are you intending to assign industrial property rights but wondering about conditions and contents of industrial property right assignment contracts? T2H Lawyers would like to help you answer this above question.
Pursuant to Law on Intellectual Property Assignment of an industrial property right means the transfer of ownership right by owner of such industrial property right to another organization or individual.
Assignment of industrial property rights must be established in the form of written contracts (hereinafter referred to as industrial property right assignment contracts).
Restrictions on assignment of industrial property rights:
- Industrial property right owners may only assign their rights within the scope of protection.
- Rights to geographical indications shall not be assigned.
- Rights to trade names shall only be assigned together with the transfer of the entire business establishments and business activities under such trade names.
- The assignment of the rights to marks must not cause confusion as to properties or origins of goods or services bearing such marks.
- Rights to marks shall only be assigned to organizations or individuals that satisfy conditions for persons having the right to register such marks.
Contents of industrial property right assignment contracts
An industrial property right assignment contract must have the following principal contents:
- Full names and addresses of the assignor and the assignee;
- Assignment bases;
- Assignment price;
- Rights and obligations of the assignor and the assignee.
Please contact us for detailed advice.
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