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Founder IP Assignment Agreement for Hong Kong

Founder IP Assignment Agreement Template for Hong Kong

A comprehensive legal agreement governed by Hong Kong law that facilitates the transfer of intellectual property rights from a company's founder(s) to the company itself. This document ensures that all relevant intellectual property created or developed by the founder(s) before and during their involvement with the company is properly assigned to and owned by the company. It covers various forms of IP including patents, copyrights, trademarks, trade secrets, and design rights, while complying with Hong Kong's intellectual property laws and regulations. The agreement includes warranties about IP ownership, provisions for future IP developments, and mechanisms for ensuring proper IP registration and transfer.

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What is a Founder IP Assignment Agreement?

The Founder IP Assignment Agreement is a crucial document in the company formation and startup process under Hong Kong law. It is typically executed during the company's incorporation or investment rounds to ensure that all intellectual property developed by founders is properly transferred to and owned by the company. This is particularly important for securing investment, as investors typically require clear evidence of the company's ownership of its core intellectual property. The agreement covers both existing IP and future developments, including patents, copyrights, trademarks, and trade secrets. It's essential for startups and technology companies in Hong Kong, as it helps prevent future disputes over IP ownership and is often a prerequisite for funding rounds or exit events. The document must comply with Hong Kong's IP laws and regulations, including the Patents Ordinance, Copyright Ordinance, and Trade Marks Ordinance.

What sections should be included in a Founder IP Assignment Agreement?

1. Parties: Identification of the Founder(s) as assignor(s) and the Company as assignee, including full legal names and addresses

2. Background: Context of the agreement, including the founder's role, relationship with the company, and general purpose of the IP assignment

3. Definitions: Defines key terms including types of IP, Intellectual Property Rights, Assigned Rights, Created Works, and other relevant terms

4. Assignment: Core provision transferring all relevant IP from the Founder to the Company, including present and future rights

5. Scope of Assigned IP: Detailed description of all IP types covered by the assignment, including patents, copyrights, trade secrets, etc.

6. Consideration: Details of any consideration provided for the IP assignment

7. Warranties and Representations: Founder's warranties regarding IP ownership, originality, non-infringement, and ability to assign

8. Further Assurance: Founder's obligation to execute additional documents and assist with IP transfer processes

9. Waiver of Moral Rights: Founder's waiver of moral rights in jurisdictions where applicable

10. Confidentiality: Obligations regarding confidential information related to the assigned IP

11. General Provisions: Standard legal provisions including governing law, entire agreement, severability, and notices

What sections are optional to include in a Founder IP Assignment Agreement?

1. Power of Attorney: Grants company power to execute documents on founder's behalf - include when founder may be difficult to reach for future IP-related matters

2. Third Party Rights: Addresses any third-party rights or licenses - include when IP has existing licenses or encumbrances

3. Non-Competition: Restrictions on founder's competing activities - include when additional protection beyond IP assignment is needed

4. Invention Disclosure: Process for disclosing future inventions - include for technical founders likely to create new IP

5. Recognition Rights: Founder's right to be acknowledged as inventor/creator - include when important for founder's professional reputation

6. Revenue Sharing: Provisions for sharing future revenue from IP - include if part of consideration involves ongoing payments

What schedules should be included in a Founder IP Assignment Agreement?

1. Schedule 1 - Existing IP: Detailed list of all existing IP being assigned, including registration numbers and status

2. Schedule 2 - Excluded IP: List of any IP specifically excluded from the assignment

3. Schedule 3 - Prior Agreements: List of any existing agreements affecting the IP being assigned

4. Schedule 4 - Assignment Forms: Standard forms for recording the IP assignment with relevant authorities

5. Appendix A - IP Registration Details: Details of all registered IP including patent/trademark numbers and dates

6. Appendix B - Technical Documentation: List of all technical documentation being transferred with the IP

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Hong Kong

Publisher

Ƶ

Document Type

Loan Agreement

Sector

Banking

Cost

Free to use
Relevant legal definitions





























Clauses




























Relevant Industries

Technology

Software Development

Biotechnology

Fintech

E-commerce

Healthcare Technology

Manufacturing

Research and Development

Media and Entertainment

Artificial Intelligence

Telecommunications

Industrial Design

Professional Services

Education Technology

Clean Technology

Relevant Teams

Legal

Executive Leadership

Research and Development

Intellectual Property

Corporate Governance

Compliance

Technology

Innovation

Product Development

Corporate Affairs

Relevant Roles

Chief Executive Officer

Chief Technology Officer

Chief Legal Officer

Company Founder

Technical Co-founder

General Counsel

Intellectual Property Counsel

Corporate Lawyer

Patent Attorney

Company Secretary

Innovation Director

Research Director

Product Development Manager

Legal Operations Manager

Compliance Officer

Industries








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Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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