TSMC Says Allegations by GlobalFoundaries Are Baseless

Taiwan Semiconductor Manufacturing Company, TSMC has recently responded to the Patent Infringement case filed against it by an American semiconductor fabrication foundry known as GlobalFoundaries (GF).

TSMC said that GF is acting like a patent troll and its allegations are baseless. The contract maker of semiconductors continued by saying that it has obtained more than 37,000 patents worldwide and a top 10 ranking for three consecutive years for the US patent grants since 2016, thus considers itself as one of the leading semiconductor foundries.

Besides, the world’s largest foundry said that it is disappointed to come across a situation where a peer opts to file a meritless case instead of competing.

On 26th August 2019, GlobalFoundries filed the complaint claiming that TSMC, along with many of its customers, and makers of several products, have infringed 16 of its patents encompassing various aspects of chip manufacturing. GF claimed that the 7 nm, 10 nm, 12 nm, 16 nm, and 28 nm nodes of TSMC illegally use its Intellectual Property (IP). Apple, Broadcom, NVIDIA, MediaTek, Xilinx, and Qualcomm are some other names that the company named among the defendants.

The complainant had filed the case in the Regional Courts of Dusseldorf, and Mannheim in Germany, the U.S. Federal District Courts in the Districts of Delaware and the Western District of Texas, and the US International Trade Commission (ITC). Looking for damages from TSMC, it wants the courts to prohibit the products that use infringing semiconductors in not only the US but Germany as well.

On the other hand, TSMC rejected the allegations and proclaimed that it would defend itself in the courts. The foundry reveals that it not only has been granted 37,000 patents throughout its history but also spends billions of dollars on R&D every year.

Typically, high-tech firms counter-sue one another in Intellectual Property infringement lawsuits, so it will not be surprising if TSMC decides to sue GF. TSMC undoubtedly feels that the allegations are baseless and therefore, is planning to defend itself against GF but what if any of the three courts disagree? Then, TSMC and its clients would work out a royalty arrangement with GF. For more visit: https://www.trademarkmaldives.com

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IPRs and Human Rights: An Arduous Relationship

Intellectual Property Rights (IPR) and human rights are two laws that never infringed on the domains of each other before the 90s. In the beginning, they grew separately and hardly interrupted one another. However, later, it has been found that they are interrelated in several ways. One, human rights and IPRs can conflict with each other. Second, these two laws may co-exist with one another. Such factors usually raise a concerning confusion whether IP and their rights are compatible with human rights or harmful to them.

IPRs and Human Rights Complement Each Other

IP rights of authors and creators should not restrict the cultural participation and scientific access, rather expedite them. Since IPRs try to create a balance between incentives on one side and access on another, the human rights and IPRs in this sense are compatible with each other. Assuredly, we can view the compatibility between these two laws by balancing positions and interests.

IPRs and Human Rights are Different

By turning the pages of the past of these two laws, we can conclude that IP rights were not a priority for human rights professionals and vice-versa. Moreover, IPRs professionals were and are focused on broadening the scope of IP protection by incentivizing and rewarding the innovative activity, while human rights experts focus on the establishment of norms that can prevent human rights abuses. As the IP’s economic aspect emphasizes rewarding individuals for their efforts, protecting their products, and considering inventions as extensions of their personalities, it promotes individualism.

In contrast, human rights are different and ensure that not only an individual rather large groups or communities can also be the authors or inventors. This law recognizes the value of IP products as an expression of human creativity and dignity and thus, mainly considers the protection of these expressions and common goods. That’s why it focuses on the interest of the entire society instead of only the individuals. On the contrary, IPRs stay limited only to the titular’s interests.

IPRs and Human Rights are Conflicting

Researchers often delay the publication of their inventions to defend their IP. It means IPRs in the scientific domain lead to more privatization and lessening of scientific publications, thus acting as a barrier in scientific progress. The continuously growing range of such people who want to protect their intellectual property in this way can result in a threatening situation where everyone obstructs the other, thus ultimately leading to reduced innovations.

Not only this, but IPRs are obstacles to another human right, i.e., right to health also. For instance, taking undue advantage of Intellectual Property Protection, the patent owners usually set their costs much higher than generics. Due to this, many people turn unable to access useful and apt medicine.

Finally, we can see that IPRs usually put negative impacts on the essence of human rights. Besides, the administrators who are responsible for the deliverance of IPRs often found neglecting their duty in the perspective of morality. These officials estimate that taking moral and ethical preoccupations into consideration are neither useful nor imperative, despite that these preoccupations are lifelines of human rights.

Conflict Resolution

Are you looking for ways to resolve the conflict between human rights and IPRs? Well, the appropriate solution will be the result of many efforts. Firstly, human rights authorities must create some specific interpretations of cultural, economic, and social aspects so that they can work with policies of the TRIPs agreement. Secondly, all administrators, whether IPRs or others, should focus on the human rights perspective that demands to keep both the owners as well as consumers of IP products at an equal level. Thirdly, the government must consider imposing maximum standards for Intellectual Property Protection instead of just supporting minimum standards. Last but not the least, the international forums, such as the World Trade Organisation (WTO), and the World Intellectual Property Organisation (WIPO) should analyze the new laws and doctrines with human rights viewpoint. It is the only approach by which human rights and IP Rights will co-exist with each other. For more visit: https://www.trademarkmaldives.com

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Tirur Betel Leaf Receives GI Tag


Intellectual Property

Geographical Indications Registry has recently granted Geographical Indication (GI) tag to Tirur Betel Leaf from Kerala. Also known as Tirur Vettila, the betel leaf is cultivated in Tirur, Tirurangadi, Tanur, Kuttippuram, and nearby areas of Malappuram district in Kerala. The high content of chlorophyll, protein, and antioxidant capacity is what makes this product unique. Appreciated for its mild stimulant, digestive, and medicinal properties, Tirur Vettila is mainly used in making pan masala.

The Tirur Vettila Ulpadaka Sangam expedited by Intellectual Property Rights (IPR) Cell, Kerala Agricultural University (KAU) had applied for the GI tag in 2018.

Director of Research at KAU, Indira Devi, said that the Tirur Vettila consists of Eugenol, the essential oil contributing to its pungency. Moreover, the shelf period of this unique product is comparatively more than other betel leaves. She added that the considerably more antioxidant capacity in Tirur Vettila adds to its medicinal properties and this leaf is more pungent in comparison with many other cultivars. Additionally, she said that the GI Registration is expected to upsurge the marketability and demand of the product.

Recognized under the registered owner – Tirur Vettila Ulpadaka Sangam, Malappuram, this GI-product is a collective initiative taken by the IPR cell of the KAU, State Department of Agriculture Development and Farmers’ Welfare, and Tirur Vettila farmers, and has now reached its ultimate destination.

Pharmaceutical Sector

Coordinator at IPR Cell-KAU, Dr. Elsy, suggested that the probabilities of using these betel leaf extracts in the pharmaceutical industry are to be explored more. Vettila is an ingredient of ‘Thampooladhi thylam’ and is used in the manufacturing of indigenous medicines to treat cough. She noted that the betel leaf traditionally is famous for its usefulness in treating several diseases. Vettila, if chewed after food enhances digestion. Betel leaf, in India, is routinely served at the time of social, religious, and cultural occasions.

Area under Cultivation

Tirur Vettila, currently, is cultivated over an area of 22 hectares. Nearly 60% of the overall production is firstly transported to Delhi, Mumbai, Itarsi, and Jaypore through rails and then from there, it is marketed to Afghanistan, Pakistan, and Bangladesh.

Before this initiative of the IPR Cell of the KAU, the Geographical Indications Registry has granted the GI tag to many other products, such as:

  • Kaipad rice,
  • Pokkali rice,
  • Marayur jaggery,
  • Vazhakulam pineapple,
  • Chengalikodan nendran,
  • Wayanad Jeerakasala rice,
  • Central Travancore jaggery,
  • Wayanad Gandhakasala rice.

Furthermore, efforts to bring the Kuttiattoor Mango amongst the GI tag gainers are in process.

The Government of India has awarded the IPR Cell of Kerala Agricultural University (KAU) for its efforts in the facilitation of Geographical Indication Registration. For more visit: https://www.trademarkmaldives.com

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Turkish Government Seeks to Create its Trademark for Health Care Tourism

Trademark Registration

Health Minister of Turkey, Fahrettin Koca has recently proclaimed that the Turkish government now aims for its trademark in health care tourism and that the process has already begun.

With the upgraded services featuring competent experts, cutting-edge technology, and affordable prices, Turkey has attained a significant momentum in health care tourism and has also become a continuously progressing center of attraction in recent years.

The minister had informed Anadolu Agency’s (AA) Finance Desk that they would make a notable launch in the next one or two months. He added that over 500,000 health tourists, i.e., patients arrived in Turkey last year and the figure will possibly exceed this year. Turkey will soon target a remarkably larger share of worldwide health tourism.

He further revealed that they would possess health attaches in nations they have planned as targets in the new period. For this, they want to establish advanced diagnostic centers in regions that they determined as targets. In other words, the Turkish government will be doing what no other country holding a share in health tourism has done.

Designating a desire to open diagnosis centers that will conduct follow-ups and check-ups when patients operated in Turkey return to their countries, Koca emphasized they are planning a foundation that will be a public property with the title international Health Services Inc. (USHAS) and work with the energy of the private sector.

USHAŞ was intended to promote the services related to Turkey’s health tourism abroad and started executing its works in February 2019. According to Koca, they are planning to deliver diagnosis and follow-up treatment via medical centers in various countries, including Ukraine, Russia, and Azerbaijan in Asia, and Qatar, Bahrain, and Iraq in the Middle East.

The Turkish Statistical Institute had reported that in 2018, around 551,748 tourists showing an increase of 27.3% in comparison to the 2017’s visited Turkey to get health-related services. The minister said that the revenue of Turkey, which comes from health tourism, has extended to $1.5 billion, but they desire to increase it by five times till 2030 and this is why they are looking for new Trademark Registration. Tourists in the context of health prefer Turkey because of many reasons, like reasonable prices, short waiting periods, quality, technical conditions, and high-end facilities. Turkey holds a leading place in several medical services, such as dental care, plastic surgery, organ transplants, and the treatment of cardiovascular diseases. For more visit: https://www.trademarkmaldives.com

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EA files a Trademark Application for Plants vs. Zombies: Battle for Neighborville

Intellectual Property

EA, the second-largest gaming company in America and Europe has recently filed a trademark for the name “Plants vs. Zombies: Battle for Neighborville.”

Named as Electronic Arts, EA is an American video game company having its headquarter in Redwood City, California.

Popped up on the records of EUIPO (European Union Intellectual Property Office), the filing doesn’t provide much information other than the date (9th August 2019) on which the firm filed this trademark and confirmation that it got registered against the NICE classifications 9 and 41. It is predictable enough that the former classification pertains to downloadable computer game software through wireless devices or global computer network; video game software, whereas the latter one relates to entertainment services, like giving temporary use of non-downloadable game software; provision of information associated with electronic computer games presented via the internet. These aspects affirm that this trademark is associated with a downloadable computer game, classified under an entertainment service.

Are you aware of Plants vs. Zombies lore? If yes, then you probably know that Neighborville is the name of the series’ setting in the Plants vs. Zombies comics. We can assume that it would be a shooter from the Garden Warfare segment. However, we attained a good idea of its name from the trademark filing, thanks to it.

What does the Trademark Registration imply? 

Of course, like many other Intellectual Property Rights (IPRs), trademarks only exist in theory, and this shows that trademark alone hardly means anything. In other words, simply because anything has been trademarked doesn’t mean that it will surely come to fruition. But in this case, it is possible that the Plants vs. Zombies: Battle for Neighborville, which incidentally is the name of the locations existing in Plants vs. Zombies comics will be our upcoming foray with Plants vs. Zombies Garden Warfare. Besides, if the report that the EA representatives have provided to investors earlier this year is still correct, then we can predict that the new game will release before April 2020.

No doubt that the company has sent out alpha playtest invites for the new Plants vs. Zombies shooter at the end of the last month, but this currently codenamed Picnic game has yet not been officially announced. For more visit: https://www.trademarkmaldives.com

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6 Simple Steps to File a Utility Patent in the US

Copyright Registration

When it comes to patents, inventors often refer to utility patents. It is because these patents cover the most prevalent categories of invention. They grant protection to new ideas that produce unique and useful products. As the utility patents can prevent a lot of inventions from being used by other people or companies without permission of the owner, a majority of Patent Applications emphasize these types of patents.

For an invention to obtain utility patent protection, it must fall under one of the following categories:

  • Machines that often consist of moving parts, for example – an engine.
  • Processes that are in the form of stepwise methods, for example – approach to do any business.
  • Useful items that include no or a few moving parts, for example – a screwdriver
  • Compositions of matter that encompass compounds or mixtures, for example – drugs.

If you are having any of the above-given types of inventions and wish to get it patented, then you should meticulously go through the below steps.

Six Fundamental Steps to File a Utility Patent

Note that, the process to file a utility patent is country-specific and therefore, varies from nation to nation. The step-wise process provided here is according to the USPTO (United States Patent and Trademark Office).

  1. Understand patent purpose

The prime purpose of a patent is to empower the inventor with the right to prevent others from manufacturing, using, selling, and importing his invention. It is an exclusive Intellectual Property Right (IPR) that the patentee can enjoy for a specific period. The duration for which the patents are valid is territorial-bound, for example –in the US, a utility patent lasts for 20 years from the date of filing the application.

  1. Maintain invention record

It is imperative to maintain the invention record, including appropriate diagrams and descriptions; important dates, like the date of creation; reason behind the origin of the idea or invention and; signature of at least 2 witnesses supporting the invention.

  1. Ensure that the invention meets the standards set for patenting

Make sure that the idea or invention for which you are seeking a utility patent should suffice the patentability criteria. For this, you should consider the following points:

  • It is not possible to obtain patent protection for an invention from an idea.
  • The work and the efficiency of your idea or invention matter a lot.
  • The invention must be unique, i.e., it should not appear similar to any existing one.
  • The invention or idea must be non-obvious and should hold an excellent subject-matter.
  1. Commercialize potential

The patenting process involves enormous costs. Hence, it is essential to ensure that your invention is worth patenting; otherwise, you can face tremendous monetary loss due to the rejection of your patent application. To prevent such occurrences, you need to be familiar with the market in which you are planning to launch the product. Besides, your invention should hold the ability to stand out in millions to make money via licensing and other ways.

  1. Conduct the patent search

Patent search plays a vital role in the process of obtaining patentability as it can help you in determining whether your invention is new or not. That’s why you should carry out a patent search that includes fetching all the relevant data and information from the U.S. Patent Office and many other journals.

  1. Be aware of the documents required

For obtaining utility patent protection for your invention, you need to be sure for providing the following documents:

  • Form 1: Application for allowance of the patent
  • Form 2: Provisional or complete specification
  • Form 3: Undertakings under section 8
  • Form 4: Declaration as to inventorship
  • Form 26: If filed through a patent agent, then the power of attorney


When should you file a utility patent application for your invention?

It is crucial to file your patent application as soon as you could after completing your invention. It is because as per the Patent Law, the first person who applies for the patent is always considered as the inventor, no matter whether he is the real inventor or not. Apart from this, the timely filing of the utility patent application can serve you with many other benefits. Once applied for the patent, you can confidently protect your invention with a label “patent pending” as it will keep the potential infringers away. It will also provide you with a profitable option to seek royalty payments from the person or company who used your invention during the pending period, including the provisional period as well. For more visit: https://www.trademarkmaldives.com

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New Patent Application Shows Walmart is Seeking its own Cryptocurrency

Intellectual PropertyThe retail giant Walmart emerges as the latest entity to move into the space of cryptocurrencies by applying for a new patent focusing on Walmart’s currency. It appears that the retailer is emphasizing a high-profile invasion into the stablecoins arena with the fiat-pledged cryptocurrency.

Walmart filed a Patent Application covering a way for making use of the digital coins tied to the traditional fiat cryptocurrency, which could enable faster and cheaper transactions along with reliability, – as per the filing published on 1st August 2019 by the U.S. Patent and Trademark Office (USPTO).

Walmart Apollo, in its application, described that the currency whose formation would be based on blockchain technology could provide a fee-free or fee-minimal place to store wealth, which could be converted to cash or spent at retailers.

The retailer also proposed that sometimes, the digital currency could even remove the needs for credit or debit cards with persons themselves being credit cards to their digital value banks. It continued by saying that the invention could:

  • Offer an open-platform value exchange for crowdsourcing work and purchases.
  • Store the purchasing history of customers, thus providing an option to save on frequent purchases.

The digital currency could appear as a profitable alternative that allows low-income households to manage wealth at institutions, which can supply a majority of the products they need on a day-to-day basis.

Customer Restrictions

Blockchain technology is not new for Walmart; instead, it is already being used by the company to keep track of products through its supply chain. For instance – in 2018, the retail giant partnered with IBM for tracking food globally along its supply chain and improving food safety.

No doubt that the retail giant is making noticeable efforts in this field. But, an email in which Kory Lundberg, a spokesman for Walmart wrote that they don’t have any plans for this patent, shows that even if approved, Walmart doesn’t appear to launch a coin similar to Libra.

Powered by blockchain technology, Libra is a new global currency proposed by Facebook.

Facebook (FB) has also set its vision on cryptocurrencies, by announcing (this year in June) that its Calibra would soon propose a digital wallet for Libra. However, in its second-quarter earnings release, FB told the investors that certain aspects could interrupt the Libra’s release. Previously, the launch of Libra was expected to take place in the next year. For more visit: https://www.trademarkmaldives.com

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IGBA Addresses Intellectual Property and Regulatory Convergence Concerns

Intellectual PropertyAbbreviated as IGBA, the International Generic and Biosimilar Medicines Association, has recently released a report on the way trade agreements can nurture the generic and biosimilar medicines and enhance patient access to care.

In the report, the association said that it firmly supports the rules-based multilateral trading system and sets out its priorities for the generic and biosimilar products in trade agreements. It explained that the multilateral trading system ensures that international trade is carried out by considering the rule of law and due process.

Jim Keon, the chair of IGBA International Trade and Intellectual Property Committee, in a statement said that while trade agreements should emphasize facilitating trade amongst countries, all too often they see agreements that erect novel barriers to trade for generic and biosimilar medications manufacturers and impede access to inexpensive medicines.

He further added that the removal of these barriers would provide many benefits like it will reduce the costs for developing generic and biosimilar medicines and shall allow free trading along with on-time entry of products into the market.

Firstly, IGBA called for considerable transparency in legislative and administrative processes for products, along with remarkable regulatory convergence of needs that pertains to product approval. It raised its voice for conditions that will enable the development of generics in single programs and supports convergence in requirements for generics assessment to reduce development costs.

In regards to biosimilars, IGBA noted some regulators who are looking for letting the use of foreign comparator products. And it said that the trade agreements could need frameworks that approve global development programs and convergence of data requirements for biosimilars.

The organization also called for trade agreements to create and develop collaborative approaches for product manufacturing practice, and evade duplication of inspections.

The association raised concerns regarding Intellectual Property (IP) provisions in trade agreements and commented that rather than multilateral, bilateral negotiations could lead to the formation of novel IP standards that can alter the balance between ensuring competition and encouraging investment. Therefore, the procurements on the patentability of inventions should rely on the TRIPS agreement, the Agreement on Trade-Related Aspects of Intellectual Property Rights.

IGBA continued that data exclusivity is not mandated by the TRIPS Agreement and ideas to introduce this exclusivity into trade agreements should be rejected. It even opposed the inclusion of requirements generating longer market exclusivity time for biologics.

The association also revealed its concerns related to abusive intellectual property-related practices and announced that it would engage with negotiators for providing detailed information on the way treaty language can protect against abuses.

Lastly, the report showed IGBA’s concern about the incentives for generics and biosimilars and stated that the countrieswhere patent linkage exists and data protection is highshould ensure having clear frameworks emphasizing incentives. For more visit: https://www.trademarkmaldives.com

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What Are The Different Types of Trademarks?

Trademark RegistrationTrademark, which owns the ability to distinguish your products from the competitors’, is one of the many forms of Intellectual Property (IP) available in the industry. With the capability of defining the products’ origin and quality, a trademark not only avoids the infringement issues but also creates goodwill that enhances the brand reputation. It is applicable for various recognizable representations, including words, 3D marks, logos, signs, images, expressions, and even the combination of colors.

Types of Trademarks

Since it is likely to get the trademark registered for multiple representations, the process of doing so appears a bit confusing. Therefore, first of all, you should determine the appropriate way to characterize the produces. As per Trademark Law, trademarks can protect any unique device, label, signature, word, and combination of colors.

Generally, you can obtain the trademark protection for the below-listed types of representations:

  1. Wordmarks

Wordmarks often consist of one or more words or a combination of letters, numbers, and words. A name, whether personal or surname, can also get the registration under this type. A wordmark is not applicable for specialized fonts or shapes, which means that if you want to protect a specific font, then you need to apply for a device or figurative mark.

Example- The name of any firm is a wordmark.

  1. Figurative marks/ Device marks/ Logotype

These are the trademarks consisting of a figure or a combination of figures and words or numbers. Words in a stylized font or a unique graphical representation can qualify the standards set to get a device mark.

Example – A wordmark represented in a specific font is a device mark.

  1. Labels

Labels on the packaged goods generally contain several distinct elements that make it convenient for the consumers to not only identify the product but also associate the same with a certain quality. Hence, the unique labels that provide precise and clear information can be registered.

Example – A label like PEPSI that aids consumers in identifying the soft drink of this brand, and thus not getting confused with other soft drinks, is worthy to obtain the trademark protection.

  1. Combination of colors

You can get the trademark protection for the combination of colors, regardless of whether or not it includes any word, figure, or numeral. However, it is beneficial to note that the protection will not be valid if the colors while representing the product to end-users appear different from the registered ones.

  1. Three-dimensional (3D) Marks

3D marks, which consist of three-dimensional shape or packaging fulfilling the specified requirements of distinctiveness in the concerned jurisdictional market, are eligible for trademark registration.

  1. Sound Marks

A sound that enables the consumers to differentiate it from others qualifies the eligibility criteria to get registered as a trademark. A sound mark can be in the form of a melody or sound with a distinct recognition effect.

  1. Shape Marks

The unique shape of a product that makes it different from several other goods available in the market is also worthy to obtain trademark protection. Bottles of perfumes are the most common examples of shape trademarks.

  1. Motion Marks

These are the marks that include shifting, changing, or moving parts, which show the motion. Marks that often showcase animated logotype also meet the standards required to ensure protection under trademark registration.

  1. Hologram Marks

A mark that owns the ability to display a 3D picture by using a holographic technique, for instance: a rotating logo, can also be protected under the shelter of a trademark.

  1. Position Marks

A position mark works in regard to the placement, size, and proportion it owns in comparison to the product on which the owner wants to fix it. These types of marks whose specific positioning is unusual to the particular market are likely to avail protection under trademark registration.

  1. Collective Marks

These include the marks that associations own to work collectively by letting their members also use them. These are generally used to indicate trade connections with the associations and can receive trademark protection.

  1. Certification Marks

Certification mark indicates that a specific product has successfully qualified certain tests of quality and therefore, is allowed to use the registered trademark.

A trademark undoubtedly plays a significant role in protecting the products. It not only develops the goodwill and reputation of the brand but also creates a long-lasting and impressive impact on the minds of the consumers. For more visit: https://www.trademarkmaldives.com

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Is the IP Assignment Agreement and IP License Agreement the same or different?

Intellectual Property Rights Intellectual Property Rights (IPR), enable the companies to generate remarkable revenue by marketing the products while ensuring their protection. It makes Intellectual Property (IP) comparatively more valuable than tangible property. That’s why it is crucial to safeguard your IP through trademarks, patents, copyrights, or other legal doctrines.

The granted IP rights sometimes provide a more convenient option of earning by allowing you to let any other willing third-party use them in exchange for a fee. In the IP industry, you can transfer your rights to someone else under some legal agreements.

Intellectual Property Assignment Agreements and Intellectual Property Licenses

The agreements that bestow you with the ability to confer your IP rights to others along with ascertaining how they can use them exist in two forms: Assignment Agreements and License Agreements.

Intellectual Property Assignment Agreements

An Intellectual property assignment agreement, whether in the context of an employment or not, is a beneficial contract used to transfer the ownership of a specific IP from one party to another. Under this, you permanently assign all your rights to the assignee in exchange for a specified amount. In other words, this agreement makes you sell the rights to others in the same way as you could vend physical property for a permanent transfer. Generally, you abandon all control, claim, and involvement on the transferred IP rights.

Intellectual Property License Agreement

An intellectual property license agreement or intellectual property facilitates you to permit others to use your IP rights while retaining ownership of the same. Under these contracts, you can trade your patents, trademarks, or copyrights for a specific amount of time.

Difference between the IP License Agreement and IP Assignment Agreement

People often have a query; Is IP Assignment and IP License the same or different. The fact is that both of these documents provide the same ability to transfer your IP rights but under different policies.

Three main differences are as follows:

  1. Interest in Intellectual Property

Interest in the IP is the first thing that differs IP licensing from IP assigning.

IP licensing allows the licensor to permit a licensee to use his IP in a particular way. The owner still retains an interest in the licensed property. It is an agreement that suits the needs of the IP holder who wants to earn profits by selling the IP but without transferring his ownership. It enables you to determine how the party is using your IP and end up the partnership if it lacks the expected advantages. With this, you can obtain a steady income from your partner over a specific period and confer the same rights to several users.

On the other side, IP assigning authorizes the assignor to give all his rights to the assignee in exchange for a fee. The IP assignment agreement permanently ceases the assignor to hold interest in his IP. It means once you assign your IP to someone, you no longer own any responsibility towards the same. You can neither claim nor sue the assignee in regards to any issue related to your IP. These agreements are suitable for those who want to sell their entire business or wish to leave that field.

  1. Notification

The second considerable thing that showcases the difference between these two legal agreements is the requirement of the notification procedure to ensure their enforceability.

In the case of the IP assignment agreement, the owner needs to file an application and notify the assignment recordation branch about his desire to transfer the ownership of the IP. As it allows the permanent transference of the property, the agreement should be in writing. However, the licensor can grant his IP rights (under IP licensing) orally and needn’t necessarily file an application or hold the contract in written form.

  1. Payment and reverse the transfer of IP rights

An intellectual property licensing allows long-term payments, whereas intellectual property assignment agreement expects upfront payments. The IP licensor can reverse the transfer of rights if he finds the partnership unprofitable, but the IP assignor can’t.

What is the importance of these two agreements?

Since these agreements provide the key details including the responsibilities of each party, they establish good relationships, which lead to the development of the IP industry. Once transferred with the help of these documents, the IP rights can stay away from infringement for years and years. But note that an inappropriately formed agreement can reduce your profits by negatively impacting your Intellectual Property Protection. So, you should always set these agreements under the supervision of an experienced attorney, who can assure that all the responsibilities provided in the documents are precise and leave no room for issues. For more visit: https://www.trademarkmaldives.com

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