What is the IP assignment agreement?
Intellectual properties are the intangible assets of the creator. They are of immensely high value and their unauthorized usage can cause loss to the creator. Therefore, the creators now obtain registration for their IP to prevent infringement. This IP assignment agreement enables the creator to assign his right, title, and interest in his IP to a third party in exchange for compensation. This determines the rights and obligations of the party, the amount of royalty to be paid, a bar on the creator to assign the rights to someone else.
Why is it important?
Through the assignment, the creator has the opportunity to earn Royalty for his work.
The assignment agreement helps the creator in limiting access to his work.
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