This invention agreement template has 7 pages and is a MS Word file type listed under our legal agreements documents.
Sample of our invention agreement template:
INVENTION AGREEMENT This Invention Agreement (the "Agreement") is effective [DATE], BETWEEN: [FIRST PARTY NAME], (the "Company") a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at: [YOUR COMPLETE ADDRESS] AND: [SECOND PARTY NAME], (the "Employee") an individual with his main address located at: [YOUR COMPLETE ADDRESS] NOW, THEREFORE, THE PARTIES AGREE AS FOLLOWS: CONFIDENTIAL INFORMATION Company Information. The Employee at all times during the term of employment and after termination, is to hold in the strictest confidence, and not to use, except for the benefit of the Company, or to disclose to any person, corporation or other entity without written consent of the Company, any Confidential Information. "Confidential Information" means any Proprietary or Confidential Information of the Company, its affiliates, their clients, customers or their partners, and the Company's licensors, including, without limitation, technical data, trade secrets, research and development information, product plans, services, customer lists and customers (including, but not limited to, customers of the Company on whom the Employee called or with whom the Employee became acquainted during the term of employment), supplier lists and suppliers, software, developments, inventions, processes, formulas, technology, designs, drawings, engineering, hardware configuration information, personnel information, marketing, finances or other business information disclosed to the Employee by or obtained by the Employee from the Company, its affiliates, their clients, customers or their partners, and the Company's licensors either directly or indirectly in writing, orally or by drawings or observation of parts or equipment. Ownership of Proprietary Information. All Proprietary Information shall be the sole property of the Company and its assigns, and the Company and its assigns shall be the sole owner of all patents, copyrights, trademarks and other rights in connection therewith. The Employee hereby assigns to the Company any rights he may have or acquire in such Proprietary Information. The Employee hereby acknowledges that all Proprietary Information is and must continue to be Confidential and that the same is not readily accessible to competitors of the Company. At all times, both during employment by the Company and after its termination, the Employee will keep in strictest confidence and trust all Proprietary Information and shall not use or disclose any Proprietary Information without the written consent of the Company, except as may be necessary in the ordinary course of performing their duties as an Employee of the Company. Company Property. All documents (including computer records, facsimile and email) and materials created, received or transmitted in connection with the Employee's work or using the facilities of the Company are property of the Company and subject to inspection by the Company, at any time. Upon termination of the Employee's employment with the Company (or at any other time when requested by the Company), the Employee will promptly deliver to the Company all documents and materials of any nature pertaining to the Employee's work with the Company and will provide written certification of compliance with this Agreement. Under no circumstances the Employee shall have, following the termination, possession of any property of the Company, or any documents or materials or copies thereof containing any Confidential Information. In the event of the termination of employment, the Employee shall sign and deliver the "Termination Certification" attached hereto as Exhibit A. Third-Party Information. The Company has received, and, in the future, will receive from third parties their Confidential or Proprietary Information, subject to a duty on the Company's part to maintain the Confidentiality of such information and to use it only for certain limited purposes. The Employee agrees to hold all such Confidential or Proprietary Information in the strictest confidence and not to disclose it to any person, firm or corporation or to use it except as necessary in carrying out the work for the Company, consistent with the Company's agreement with such third party. INVENTION ASSIGNMENT The Employee agrees that all inventions, innovations, improvements, developments, methods, designs, analyses, reports, and all similar or related information which relates to the Company's actual or anticipated business, research and development or existing or future products or services and which are conceived, developed or made by the Employee while employed by the Company ("Work Product") belong to the Company. The Employee will promptly disclose such Work Product to the Company and perform all actions reasonably requested by the Company (whether during or after the Term) to establish and confirm such ownership (including, without limitation, assignments, consents, powers of attorney and other instruments). MAINTENANCE OF RECORDS The Employee shall keep and maintain adequate and current written records of all Inventions. The records will be in the form of notes, sketches, drawings, and any other format that may be specified by the Company. The records will be available to and remain the sole property of the Company at all times. DISCLOSURE OF INVENTIONS The Employee shall promptly disclose to the Company (or any persons designated by it) all discoveries, developments, designs, improvements, inventions, blueprints, formulae, processes, techniques, computer programs, strategies, know-how and data, whether or not patentable or registerable under copyright or similar statutes, made or conceived or reduced to practice or learned, either alone or jointly with others, during the period of the Employee's employment that are related to the business of the Company or that result from tasks assigned to it by the Company or that result from the use of premises or property (including computer systems and engineering facilities) owned, leased or contracted for by the Company. All such discoveries, developments, designs, improvements, inventions, formulae, processes, techniques, computer programs, strategies, blueprints, know-how and data are hereinafter referred to as "Inventions." The Employee shall also promptly disclose to the Company, and the Company hereby agrees to receive all such disclosures in confidence, all other discoveries, developments, designs, improvements, inventions, formulae, processes, techniques, computer programs, strategies, blueprints, know-how and data, whether or not patentable or registerable under copyright or similar statutes, made or conceived or reduced to practice or learned by the Employee, either alone or jointly with others, during the period of employment of the Employee, for the purpose of determining whether they constitute "Inventions," as defined above. OWNERSHIP OF INVENTIONS All Inventions shall be the sole property of the Company and its assigns, and the Company and its assigns shall be the sole owner of all patents, copyrights, trademarks, and other rights in connection therewith. The Employee hereby assigns to the Company any rights he may have or acquire in such Inventions
