• October 2018
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Will consulting agreement apply if signed before company formation?

If you haven’t yet incorporated then simply swap your name with the company name. Then after forming your company you’ll have the chance to draft another agreement assigning those personal rights to the company.

There are some important things to keep in mind with an intellectual property (IP) assignment agreement. First, be as specific as you can in terms of what IP is being assigned. Containing broad language (like a catch all for all the IP) can cause problems down the road so it’s wise to include an Exhibit with the agreement that is ultra explicit in terms of what IP is included. Also, it’s smart to have the contract effective date as when your working relationship first started in order to avoid any IP escaping the agreement.

If you want some help reviewing or drafting an IP assignment agreement stop by LawTrades. Our collection of startup and IP attorneys are dedicated to providing small businesses with sound, cost-friendly legal advice.

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