What is a patent assignment?

A patent assignment is a legal agreement between two or more parties that transfers the ownership rights of a patent from one party to another. This type of agreement is common in the technology sector where individuals or businesses may need to transfer ownership of patented products. In South Carolina, these agreements must be in writing and should include the transfer of the patent, a description of the patent, and complete details of both the transferring and receiving parties. Additionally, patent assignments must include the signed consent of the party transferring the patent in order to be valid. The agreement should also be registered with the United States Patent and Trademark Office (USPTO) in order to be legally binding. Once an assignment is registered, the new owner is officially recognized as the patent holder and is granted the same rights and protections under the patent.

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