Overview of an Assignment of Rights in Software
What is an Assignment of Rights in Software?
An Assignment of Rights in Software is used to transfer all intellectual property rights for a piece of software.
The rights transferred under an Assignment of Rights in Software include all intellectual property rights in the software and also any documentation relating to the software, e.g. the operating manuals or training materials.
In return for transferring rights under an Assignment of Rights in Software, the party giving up these rights will be rewarded, e.g. by monetary payment or by equity in a company. If the consideration is equity, separate documents relating to the transfer or issue of equity will be required.
Key points included
- Name and specification of the software; and
- Details of the consideration for the transfer.