How can I transfer my patent rights?

Transferring patent rights can be a complicated process, particularly when done in Florida. Generally, patent rights are transferred through an assignment or exclusive license. In an assignment, the original inventor (also called the assignor) transfers all of their rights to an assignee, who is then responsible for protecting their rights to the invention. An exclusive license, on the other hand, is an agreement between the original inventor and another person or company (the licensee) that gives the licensee the exclusive right to make, use, and sell the patented invention. In either case, the original inventor will have to file a document to officially transfer their patent rights. The document must be accompanied by a fee before it can be filed with the US Patent and Trademark Office (USPTO). Additionally, the document must include a description of the patent, a statement of the patent’s right being transferred, and the names of the parties involved. To ensure the transfer is legally binding, both parties should sign the document in the presence of witnesses; this is especially important in Florida, where certain requirements must be met to make the document official. After the document has been properly filled out and all needed forms have been filed with the USPTO, the transfer of patent rights will be legally effective.

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