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Deed of Assignment of Patent

Document Cited in Related
Vincent
Updated atMarch 2010

THIS DEED OF ASSIGNMENT is made at _____________ on this ____________day of ______________between Mr___________________, Mr________________ and Mr_____________carrying on business in partnership in the name of M/s_____________________Hereinafter referred to as 'the Assignors' of the One Part and M/s___________, a Company registered under the Companies Act, 1956, and having its registered office at ________________Hereinafter referred to as the `Assignee' of the Other Part;

WHEREAS

  1. The Assignors own a patent in the manufacture of an article known in the market_____________and the said patent is duly registered under the Patents Act 1970 and which is broadly described in the Schedule hereunder written.

  2. The Assignors have promoted a company being the Assignee herein and have agreed to transfer their partnership business including the right to the said Patent to the Assignee in consideration of and in the manner provided in a separate agreement between the Assignors.

  3. The Assignee has now requested the Assignor to assign the said Patent and all rights appurtenant thereto to the Assignee which the Assignors have agreed to do.

NOW THIS DEED WITNESSETH that pursuant to the said Agreement and in consideration of a sum of Rs__________paid to the Assignors partly in cash and partly in the form of the shares of the Assignee of the face value of the amount of Rs___________ before the execution of these presents (receipt whereof the Assignors hereby admit) they the Assignors as beneficial owners of the said patent broadly described in the Schedule hereunder written, hereby assign to the Assignee the said patent which has been granted to the Assignors by the Government of India under the Patents Act, 1970, together with the Assignors' full right of action, powers and benefits arising, accruing or belonging to the...

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