The ownership of certain types of intellectual property can only be transferred by a properly drafted written agreement. Without the right agreement, the transfer may not be effective and you will not receive the rights that you are paying for. So whether you are buying a trade mark or patent, or the rights to a book, software or anything else, it is important that you have an experienced specialist to advise you through all stages of the transaction.
It is just as important to make sure that the deal includes appropriate protections for your business following the purchase, particularly if someone else later claims that the intellectual property rights that you have purchased infringe their own rights. As another example, if you are buying rights in software, you may wish to prevent the seller from writing new software that achieves the same functionality, which could then be sold to a competitor or used by the seller to compete with you.
Taking advice early on is a good idea, and Star Legal can help you ensure that you get off to the right start. We have advised businesses buying all types of intellectual property in many different sectors. We can prepare or review the transfer agreement - known as the assignment agreement - as well as negotiating the agreement on your behalf with the seller or their advisers.
To ensure your purchase of intellectual property rights is legally binding and protected, contact us today.