A patent assignment is the transfer of an owner’s property rights in a given patent or patents, and any applications for such patents. These transfers may occur on their own or as parts of larger asset sales or purchases.

Patent assignment agreements provide both records of ownership and transfer and protect the rights of all parties. In the case of published patent applications, there is no provision to record assignment or ownership, except at the time of filing the application when the inventors declare the ownership of the invention by their “assignee”, in case of inventions filed on behalf of a non-individual legal entity.

In the published application, the “assignee” is referred to as “applicant” and appears on the face of the published application. It would be helpful if recordation of ownership is provided, especially in the period between application filing and its grant as a patent. Under the Assignment the Assignee may pay off sum, revenue sharing or other payment for the assignment of the Patent, as but the parties may agree.