Why Invention Assignment Agreements Are Important
June 26, 2021
There are many different types of companies in the Houston area. Some of the companies and larger international corporations and some are small businesses with one or two employees. These companies also provide different products and provide different services as well. While the various companies vary greatly, they still do have some things in common. The goal of most companies is to earn money and in order to earn more money companies need to have employees to be able to complete more work.
When companies hire employees there are many considerations and qualifications that they want for a particular position. This could be education qualifications, experience and other factors. Once the company settles on the employee that they believe will be the best fit for the position, they need to go through the formal process of hiring them. This usually involves having the employee sign an employment contract, which specifically states the terms of employment.
There are many clauses in employment contracts. They should state the pay, the scope of responsibilities for the employees, how employment can terminate, non-compete and non-disclosure agreements and other clauses.
Basics of an Invention Assignment Agreement
One of those is an invention assignment agreement. When employees are working for the employer, they may develop new technology or other inventions to improve the companies existing products or processes. Employers would like to keep the technology developed to improve their company and invention-assignment agreements allow for that to occur. The agreement basically states the employee needs to assign the rights to any patent they develop that is related to their work to the employer as a condition of employment.
Employment contracts are very important for employers in order to protect the company. Therefore, they need to be well-written to ensure they do in fact protect the company’s interest. They must have the proper language and also follow the state laws so they are enforceable in the case of a breach. Consulting with experienced attorneys could help ensure employment contracts achieve the intended goal.