Common Contracts

ANNOTATED PATENT SALE AGREEMENT

Annotated Patent Sale Agreement • October 10th, 2017 • Delaware

• Contract Type
  Annotated Patent Sale Agreement
• Filed
  October 10th, 2017
• Jurisdiction
  Delaware

This PATENT SALE AGREEMENT (this “Agreement”) is entered into, as of ___________________(the “Effective Date”), by and between [Name of Seller Entity], with its principal offices at __________ [Address of Seller] (“Seller”) and ____________ [Name of Purchaser Entity], a _____________ with its principal offices at __________ [Address of Purchaser] (“Purchaser”). The parties hereby agree as follows: [1] This Agreement is for transferring all right, title, and interest to patents from the Seller to the Purchaser, rather than licensing certain rights to patents. This form of agreement favors the Seller. Other forms may be more appropriate if you are representing the Purchaser. [1] This introductory provision identifies the parties and the effective date of the agreement. Some courts have relied on intent language to find enforceable obligations even in the absence of consideration, e.g., “The parties, intending to be legally bound, hereby agree as follows:”