ASSIGNMENT OF PATENT
THIS DEED OF ASSIGNMENT made at ………..on this day of………..20 ………..between A son of Shri ……….. resident of(hereinafter called "the Assignor") of the ONE PART and Shri …………. son of Shri ………..resident of………..(hereinafter called "the Assignee") of the OTHER PART.
WHEREAS
(1) The assignor is the inventor and patentee in respect of ……….. and he has the exclusive privilege and authority to use the said patent as set out in the Schedule hereto (hereinafter called as the "said patent") for a period ………..years from ………..subject to the prescribed fee.
(2) The assignee has approached the assignor to assign the benefit of said invention and the patent and, the assignor has agreed to do so for a consideration of Rs . …………
NOW THIS DEED OF ASSIGNMENT WITNESSES THAT:
In pursuance of the said agreement and in consideration of the said sum of Rs, ………..paid by the assignee to the said assignor (the receipt whereof the assignor hereby acknowledges), the said assignor as beneficial owner hereby, transfer and assign unto the assignee all that the said patent and all the benefits and advantages thereof to HAVE AND TO HOLD THE SAME and the said assignor hereby covenants with the said assignee that the said patent is valid and subsisting.
And the said assignor further covenants with the said assignee that on the request and cost of the assignee, the assignor shall do all acts and make such writings or statements as shall be necessary for the registration of the assignment with the Controller of Patents and Designs under the provisions of the Indian Patents and Designs Acts, 1911.
IN WITNESS WHEREOF the parties hereto have hereunto set and subscribed their respective hands the day and year first hereinabove written.
WITNESSES
1 Signed and delivered by A, the withinnamed assignor
2. Signed and delivered by B, the withinnamed assignee