What is a co-ownership agreement ?
A patent co-ownership agreement is a contract governing the relations between the co-owners of the industrial property title. The purpose of this regulation being to take care of the interests of each of the co-owners, it will have to answer the questions on the management of the already existing patent, the pending patent applications, the exploitation of the patent…
Just as the co-owners of an apartment would do, it will be necessary to determine who will be in charge of what expenses, at what level, etc.
For the patent condominium regulations, some aspects are really not to be overlooked:
- The definition of the object of the contract: which patent will be the object of the co-ownership, if there is only one or several etc.
- The management of the co-ownership: what will be the share of each co-owner, if there is a manager of the patent, which co-owner will be in charge of the expenses related to the life of the patent, what will be the modalities of transfer of the share of the co-owners, what will be the modalities in case of renunciation of the patent (to its extension abroad for example)
- The exploitation of the patent: how the patent will be exploited (by both co-owners at the same time, by only one of them, etc.)
- The defense of the patent: how the costs of proceedings will be allocated in the event of an infringement action against the patent or against a third party infringer
An accurate co-ownership agreement is a very good tool to look after your interests as well as those of the co-owner of your patent. Our team will be able to advise you in the drafting of your co-ownership regulations to allow you to serenely approach the life of your patent.