Standard Intellectual Property Agreement

However, the simplest way for the company to guarantee ownership of the labor product is for the contractor to assign the labor product to the labor. This is a simple ownership or assignment clause in the agreement with an independent contractor, where the contractor transfers all rights, including intellectual property rights, and waives its copyright in the work product. The funds that the faculty member receives from the sale of intellectual property belonging to the author of the faculty or the inventor are allocated and spent exclusively by the author or inventor of the faculty.